Costco: Jefferies confirms its Buy rating on the stock

(CercleFinance.com) - Jefferies confirms its Buy rating on Costco shares, with an unchanged price target of $1,050, representing a potential upside of 19%.


While Costco will publish its Q4 results this month, the company has already announced that its annual sales will amount to around $250 billion, with a 5.9% increase in comparable sales (excluding currency and petrol effects).

Non-food products were the strongest performer, with a double-digit monthly increase.

'We have adjusted our Q4 revenue estimates based on the reported results, but have left our net income guidance and price target unchanged', says Jefferies.

The analyst also reports that Costco continues to see acceleration in its e-commerce business, 'which could offer further upside potential in the future', believes the broker.


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