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Fly News Breaks for December 14, 2018
COST
Dec 14, 2018 | 08:50 EDT
RBC Capital analyst Scot Ciccarelli lowered his price target on Costco to $247 after its Q1 results to reflect the slightly lower than expected margins for the quarter, also lowering his FY19 EPS view to $7.65 from $7.70. The analyst keeps his Outperform rating on the company however, noting that its traffic growth "remains impressive". Ciccarelli also retains his positive view of Costco's business model and its prioritizing of "value", which has produced a "massive competitive barrier" in retail with the "highest comp growth" in the industry. The analyst recommends for investors to be "aggressive buyers" on a pullback.
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