Costco price target raised to $925 from $915 at Evercore ISI

Evercore ISI raised the firm’s price target on Costco to $925 from $915 and keeps an Outperform rating on the shares. Costco’s August 7.1% global core comp represents a slight acceleration from the three-month trend, while its 6.7% U.S. core comp is “running twice the pace of overall U.S. retail sales growth,” according to the analyst, who adds it “is fair to say Costco is showing positive momentum into the September fee hike.” While the stock is “not cheap,” the firm believes the premium is justified by share gain, traffic and fee increase tailwinds, the analyst tells investors.