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Fly News Breaks for March 5, 2020
Mar 5, 2020 | 08:57 EDT
Argus analyst Chris Graja raised the firm's price target on Costco to $350 from $330 and keeps a Buy rating on the shares ahead of its Q2 results today. The analyst contends that the company's execution has remained excellent, driving "strong" traffic growth and membership renewals. Graja adds that Costco's premium valuation is warranted by its recurring revenue from membership fees, 90% renewal rates in North America, and some of the strongest traffic in retail.
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