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Fly News Breaks for July 9, 2018
COST
Jul 9, 2018 | 07:35 EDT
Baird analyst Peter Benedict reiterated an Outperform rating and $230 price target on Costco ahead of the company's June sales results, telling investors in a research note that he sees some sequential moderation in June comps as core compares steepen 200 basis points and FX turns to a headwind. Looking ahead, Benedict says Costco should sustain healthy mid-single digit core comps, aided by "thoughtful" price investments plus several company-specific drivers, adding that he remains a buyer of this "growth staple."
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