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Fly News Breaks for September 18, 2019
COST
Sep 18, 2019 | 16:41 EDT
Bernstein analyst Brandon Fletcher downgraded after the close Costco Wholesale to Underperform from Market Perform with a price target of $230, up from $220. The shares closed Wednesday up $1.02 to $292.43. "Membership exhaustion" poses risks to the company's U.S. and international growth, Fletcher tells investors in a research note. The analyst believes Costco members could reevaluate their spending and membership fees competitors get more aggressive. Further, he sees the company's growth in China coming in slower than most investors think.
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