| 2016-10-19 09:46:30|
COST 09:46 10/19 10/19/16
Costco upgraded to Buy on earnings momentum at Northcoast
As previously reported, Northcoast upgraded Costco to Buy from Neutral with a $175 price target. Analyst Chuck Cerankosky expects a stronger earnings improvement in 2018 and believes the performance will reflect a $5 membership increase in the US and Canada. Further, the analyst expects the board to declare another $5 per share special dividend given the company's strong cash flow and for the company to benefit from the new relationship with Visa.