Piper Jaffray Analyst Reiterates Overweight Rating on Costco Wholesale Corporation (COST)
Piper Jaffray analyst, Sean Naughton, reiterates an Overweight rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $171.00, ahead of the company’s sales release.
The analyst expects that July comparable sales should be lighter, due mostly to one less selling day this year caused by a shift in the calendar. Naughton believes core comparable sales will be reported to be up around 1% to 3%. The analyst also predicts a $0.04 increase in EPS over the next two years due to the company increasing its Asian market membership fees.
Sean Naughton is ranked #655 of 4,083 analysts on TipRanks. He maintains a success rate of 57% and realizes an average return of 5.0% per recommendation.