TD Cowen raised the firm’s price target on Costco to $975 from $925 and keeps a Buy rating on the shares. The firm said its results of US traffic +5.6% and gross margins +44bps are impressive given a focus on value, basket growth via product innovation, and younger member relevance. Tailwinds from digital scale and gas stood out in gross margins, offsetting SG&A wage investments.
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Read More on COST:
- Costco reports Q4 earnings beat, Cassava to settle SEC charges: Morning Buzz
- Costco price target raised to $980 from $950 at BMO Capital
- Costco price target raised to $1,000 from $925 at Telsey Advisory
- Costco price target raised to $880 from $780 at DA Davidson
- Costco price target raised to $755 from $676 at Roth MKM
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