Costco price target raised to $640 from $560 at UBS

UBS analyst Michael Lasser raised the firm’s price target on Costco (COST) to $640 from $560 and keeps a Buy rating on the shares. Costco’s July sales results were better than many anticipated, and the company contended well with a greater degree of competitive pressure from Amazon’s (AMZN) Prime Day and Target’s (TGT) Circle Week during the period, the analyst tells investors in a research note.