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Fly News Breaks for September 14, 2018
COST
Sep 14, 2018 | 06:21 EDT
Wells Fargo analyst Edward Kelly downgraded Costco Wholesale to Market Perform from Outperform with an unchanged price target of $235. While Costco remains one of the highest quality companies within consumer and its near-term results should be positive, "this may be as good as it gets," Kelly tells investors in a research note. He believes the stock's 50% rally over the past year "has left it priced for perfection." Costco's comps "seem destined to slow in 2019" as it laps tough compares, the analyst adds.
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