Fly News Breaks for December 14, 2018
COST
Dec 14, 2018 | 07:25 EDT
Wells Fargo analyst Edward Kelly lowered his price target for Costco Wholesale to $220 saying the company delivered "another somewhat disappointing quarter" as it "once again failed to capitalize on its significant comp sales performance." The analyst explains that while Costco's sales momentum "remains impressive," the underlying flow-through to earnings was softer than he expected. He remains concerned about "mean reversion on the top line against recent margin pressure and a peak valuation." Kelly keeps a Market Perform rating on Costco.
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