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Fly News Breaks for June 1, 2016
COST
Jun 1, 2016 | 05:33 EDT
Goldman Sachs analyst Matthew Fassler upgraded Costco to Buy saying the company has "high-visibility catalysts" in 2017, namely the transition to a new credit card and a prospective member fee rate hike. Meanwhile, the stock has "drifted to some of its lowest valuation metrics in some time," Fassler tells investors in a research note. He expects accelerating earnings momentum to drive multiple expansion and upped his price target for the shares to $175 from $169. Costco closed yesterday down 31c to $148.77.
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