Wells Fargo says Costco’s (COST) May sales came in just below expectations and modestly eased sequentially but “remained very healthy” on broad-based category strength. The company’s’; comp sales of 6.0% fell a touch short of the 6.2% consensus, the analyst tells investors in a research note. Wells believes Costco continues to perform well in a “tricky backdrop,” but it struggles to “get excited about upside at a high multiple.” The firm keeps an Equal Weight rating on the shares with a $1,000 price target
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