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Fly News Breaks for December 10, 2015
COST
Dec 10, 2015 | 07:45 EDT
Cowen said the weakness in Costco represents an attractive entry point. The firm is not concerned with the company's Q1 earnings miss, as they believe it was due to one-time items including foreign exchange, higher stock compensation and non-recurring legal items. Cowen cited higher comps, improved membership and on-line growth, and solid gross margins as positives. Cowen reiterated its Outperform rating and $165 price target on Costco shares.
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