Costco price target raised to $1,100 from $1,050 at Oppenheimer

Oppenheimer raised the firm’s price target on Costco (COST) to $1,100 from $1,050 and keeps an Outperform rating on the shares. The firm notes the company reported a January U.S. comparable-store sales increase of 6.8%. The company continues to see broad-based momentum across categories with non-foods a relative bright spot increasing in the low double digits. Oppenheimer remains a top pick for the firm. It continues to see an attractive outperformance case for shares even following major gains lately. Further, Oppenheimer still sees the potential for a special dividend and/or a stock split, which could represent positive catalysts for shares.