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Fly News Breaks for December 14, 2018
COST
Dec 14, 2018 | 07:05 EDT
Oppenheimer analyst Rupesh Parikh maintained an Outperform rating on Costco but cut his price target to $240 from $262. In a research note to investors, Parikh says he is a buyer of shares on any weakness related to Q1 results, which included adjusted EPS of $1.61 vs. the Street estimate of $1.62. Comps increased a robust 7.5%, which he says continues to represent a stand-out performance in his food retailing/discounter coverage, but believes EPS upside remains a challenge due in part to increased cost pressures and company investments.
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