UPDATE: Jefferies Raises PT on Costco Wholesale on Expected Overall Comp Store Sales

In a report published Tuesday, Jefferies analyst Daniel Binder reiterated a Hold rating on Costco Wholesale Corporation COST, and raised the price target from $92.00 to $97.00. In the report, Binder noted, “We are expecting an overall comp store sales increase of 5-6%. We are also forecasting the core U.S. comp store sales will increase in a range of 5-6%. The company's rich multiple at over 21x August 14E EPS appears to more than reflect the strong traffic gains and higher store growth this year.” Costco Wholesale Corporation closed on Monday at $107.04.