Costco price target raised to $610 from $590 at Wells Fargo

Wells Fargo raised the firm’s price target on Costco to $610 from $590 and keeps an Equal Weight rating on the shares. The firm sees a choppiness ahead for its traditionally defensive sector, given fundamental concerns and soft-landing optimism. Selectivity seems key, Wells argues, saying it favors names best positioned to navigate the risky backdrop and those with idiosyncratic tailwinds.