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Fly News Breaks for June 15, 2018
COST
Jun 15, 2018 | 08:40 EDT
Bernstein analyst Brandon Fletcher said that without evidence of an evolution in Costco's membership strategy he has grown more nervous about what he sees as an "extremely generous multiple" that would be needed to move the stock much higher. He questions if the shares may be nearing a top given the bond-like nature of the stock and the move up in real bond rates. He maintains a Market Perform rating and $215 price target on Costco shares.
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