Costco price target raised to $874 from $865 at BofA

BofA raised the firm’s price target on Costco to $874 from $865 and keeps a Buy rating on the shares after the company reported fiscal Q3 EPS ahead of the firm’s estimate on comps that increased 6.5% for the total company ex-gas and 6.0% for the U.S. The firm expects Costco and other warehouse clubs to gain share in the current environment as consumers continue to adjust to higher prices, making the company’s value proposition more attractive, the analyst tells investors.