In a report released yesterday, Robert Ohmes from Merrill Lynch reiterated a Buy rating on Costco (NASDAQ: COST), with a price target of $255. The company’s shares closed yesterday at $231.68, close to its 52-week high of $245.16.
Ohmes has an average return of 25.3% when recommending Costco.
According to TipRanks.com, Ohmes is ranked #2672 out of 4886 analysts.
Currently, the analyst consensus on Costco is a Strong Buy with an average price target of $248.58, which is a 7.3% upside from current levels. In a report issued on October 1, Robert W. Baird also maintained a Buy rating on the stock with a $250 price target.
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Based on Costco’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $44.41 billion and net profit of $1.04 billion. In comparison, last year the company earned revenue of $42.3 billion and had a net profit of $919 million.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock.
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