Costco price target raised to $784 from $660 at JPMorgan

JPMorgan analyst Christopher Horvers raised the firm’s price target on Costco to $784 from $660 and keeps an Overweight rating on the shares. The company’s January core comps were “much stronger than expected”, and the firm’s follow-up with the management indicated that Costco saw no weather headwind while the backdrop of discretionary spending is improving, the analyst tells investors in a research note.