Costco: Jefferies says hold, but raises target price
(CercleFinance.com) - An analyst at Jefferies today maintains a "Hold" recommendation on the share of Costco group, saying that there is more value elsewhere in the sector.
Even so, the analyst has raised his target price for the share from 263 dollars to 285 dollars.
"COST has seen a significant surge in traffic in the last wk. of Feb./first wk. of Mar. as members stock up on essential groceries and cleaning supplies in response to COVID-19," the broker notes.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Even so, the analyst has raised his target price for the share from 263 dollars to 285 dollars.
"COST has seen a significant surge in traffic in the last wk. of Feb./first wk. of Mar. as members stock up on essential groceries and cleaning supplies in response to COVID-19," the broker notes.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.