Costco Wholesale Corporation COST is likely to grow due to its high traffic.
The company’s May traffic was up 5.5%. It also has experienced good traffic growth over last five months.
The company has also said that its major segment in dollars has been soft due to a combination of weak demand and less MVM couponing year over year.
However, this setback has been partially offset by strong demand in sporting goods, HBA and lawn & garden.
The company has been given an ‘Overweight’ rating by J.P. Morgan, with a price target of $64.00, which is based on a 50/50 weighted, blended P/E and EV/EBITDA multiple build.
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