Costco initiated with a Buy at BTIG

BTIG initiated coverage of Costco (COST) with a Buy rating and $1,115 price target Costco has significant customer loyalty, which will aid in continuing to drive traffic and sales growth, says the analyst, who believes the recent pullback in shares presents a buying opportunity. The firm sees Costco continuing to take market share in the retail industry and benefiting from its healthy membership renewal rates and value.