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Fly News Breaks for July 11, 2019
COST
Jul 11, 2019 | 08:42 EDT
Loop Capital analyst Laura Champine raised her price target on Costco to $300 and kept her Buy rating after its June comps data and the "encouraging" sequential improvement in traffic growth to 3.7% from 2.7% in May. Based on the improving trends in gas and FX, the analyst also raises her August quarter comps estimate from 5.1% to 5.8%, adding that Costco's "growth and stability" warrant a higher valuation that the current 30-times forward earnings multiple implies.
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