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Fly News Breaks for June 26, 2017
COST
Jun 26, 2017 | 07:22 EDT
As previously reported, Raymond James upgraded Costco (COST) to Outperform from Market Perform and established a $173 price target. Analyst Budd Bugatch said shares have pulled back approximately 13% since June 15 in reaction to Amazon's (AMZN) purchase of Whole Foods (WFM) providing a buying opportunity. The analyst said the deal does not material impact Costco's unique business model, which remains remains intact with healthy membership growth and strong renewal rates.
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