Costco price target raised to $940 from $890 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Costco to $940 from $890 and keeps a Buy rating on the shares. The firm is more positive on the company’s growth and expense leverage potential after another round of store visits, noting that its management team is focused on value and volume, with increasing store level adjustments to maximize relevance club by club, the analyst tells investors in a research note. Costco’s core comps growth was 7% in May, above its 6% estimate, with core comp growing faster in international markets and driving the upside, the firm added.