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Fly News Breaks for April 17, 2019
DG, COST
Apr 17, 2019 | 07:19 EDT
Oppenheimer analyst Rupesh Parikh raised his price target for Costco (COST) to $270 from $245 after spending time visiting senior management. The analyst overall walked away still constructive on Costco's prospects, and continues to believe the company remains best positioned in his entire food and grocery coverage to deliver sustainable top- and bottom-line performance. Parikh still sees the potential for a special dividend of as much as $9-plus in coming quarters. The analyst notes that Costco and Dollar General (DG) remain his top food retailing/discounter picks. He reiterates an Outperform rating on Costco's shares.