Loop Capital lowered the firm’s price target on Costco (COST) to $1,110 from $1,115 and keeps a Buy rating on the shares after Q3 earnings beat. Core SSS beat consensus for each period of the quarter, and Costco also is slow to pass on cost increases, which is leading to its market share growth, the analyst tells investors in a research note. Loop adds that it remains positive on the stock given the company’s outsized value driving traffic to clubs.
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