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Fly News Breaks for August 9, 2018
COST
Aug 9, 2018 | 06:13 EDT
Loop Capital analyst Laura Champine raised her price target on Costco to $250 and kept her Buy rating after its July comps growth of 8.3% thanks to better than expected Appliance sales. The analyst is also modeling slightly lower Selling, General, & Administrative expense rate over the longer term while raising her FY18 EPS view by 3c to $2.47. Champine further notes that the cost increase will be passed on through pricing later which could pressure margins by about 27bps in Q4, but states that Costco's history of stability is "enviable".
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