McAdams Wright Ragen reiterates its Hold rating and $92 price target on Costco WholesAle Corporation COST as June comps soften on headwinds.
McAdams Wright Ragen comments, "Costco Wholesale reported June comparable store sales growth of 3% (on a difficult 14% prior-year comparison), which disappointed relative to expectations and was below recent trends as the combined gas and foreign exchange (FX) impact was solidly negative, and the two-day Independence Day calendar shift created an additional headwind."
Costco WholesAle Corporatio closed at $95.55 on Tuesday.
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