Costco (NASDAQ:COST) is looking to extend on yesterday’s 2.2% gain after posting an eye-popping double-digit gain in comparable stores for November.
The retailer’s mark of 10.8% smashed the consensus estimate of 7%
Costco posted 39% growth in its e-commerce channel.
On Wall Street, Stifel Nicolaus is out of the gate early with a price target raise to $185 on Costco. The new PT from Stifel tops the 52-week high for Costco of $183.18. Analyst Mark Astrachan notes that Costco’s 10% comparable sales growth arrives after Whole Foods began its new pricing strategy.
COST +2.2% premarket to $181.40. Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) both have their heads above water in premarket trading after what looks to be a strong signal for the retail sector on the Amazon disruption factor.
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