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Fly News Breaks for June 30, 2016
COST
Jun 30, 2016 | 08:04 EDT
Oppenheimer analyst Brian Nagel says that recent media articles suggest that the new credit card transition at Costco has proven more difficult than anticipated, with incorrect mailing addresses and account set-up problems delaying card activations. The analyst views these issues as headwinds to Q4 sales and expenses at the chain. However, Nagel expects incremental top-line weakness to be temporary and give way to better trends. The analyst reiterates an Outperform rating and $175 price target on the shares.
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