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Fly News Breaks for December 13, 2019
Dec 13, 2019 | 08:04 EDT
RBC Capital analyst Scot Ciccarelli raised his price target on Costco to $334 and kept his Outperform rating after its "solid" Q1 comps and better than expected gross margins, even as its SG&A costs remained "elevated" amid continued investment in IT and vertical integration capabilities. The analyst calls the stock the "ultimate rinse and repeat model" as the company continues growing its sales base and scale while extending its competitive moat.
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