Piper Jaffray is reiterating its Overweight rating and $68 price target on shares of Costco Wholesale COST, as the investment bank previews August same store sales.
In a note to clients, Piper Jaffray writes, "We are estimating an August comp of +3% - +4% vs. consensus of ~+4%. We are assuming a core merchandising comp of +2.9%, and combined gas and F/X should provide a tailwind of +1.1%. Based on these assumptions we are maintaining our Overweight rating with a $68 price target."
Shares of Costco lost 9 cents on Friday, to close at $56.19.
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Posted In: Analyst ColorNewsPrice TargetMarketsAnalyst RatingsConsumer StaplesHypermarkets & Super CentersPiper Jaffray
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