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COST - Costco Wholesale News Story

$385.94 3.2  0.8%

Last Trade - 4:46pm

Consumer Cyclicals
Large Cap
Market Cap £121.99bn
Enterprise Value £121.16bn
Revenue £128.65bn
Position in Universe 66th / 6854

BUZZ-Street View: Costco set for more growth despite profit miss

Fri 5th March, 2021 11:34am
** Costco Wholesale Corp  COST.O  missed analysts' estimates
for Q2 profit on Thursday, as it spent more on employee benefits
who worked through the COVID-19 pandemic and sanitizing its
    ** Shares down 0.9% at $316.25 in premarket trading

    ** J.P.Morgan ("overweight," PT: $369) says co has
"ballasts" in its assortment that are pro-reopening
    ** RBC ("outperform," PT: $399) says despite some investors'
concern over co's Q2 margins, brokerage continues to believe
that co is "marching to its own drummer," especially with
    ** Co's merchandise offering provides both upside potential
and downside protection in the event of an economic downturn -
    ** Evercore ISI ("outperform") says co's loyalty driven
model "offers defensive growth with a sneaky reopen kicker to
keep the stock compounding"
    ** Cowen and Company ("outperform," PT: $410) believes co is
well-positioned to continue delivering robust near- to
medium-term earnings growth driven by "square footage growth,
membership revenue growth, and industry-leading comps growth"
    ** Morningstar (fair value: $332) expects mid-single-digit
percentage sales growth and 3%-4% operating margins over the
next 10 year
    ** Investors should wait for a greater margin of safety as
COST still faces an uncertain normalization of spending habits
with the pandemic receding - brokerage

 (Reporting by Tapanjana Rudra)
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