Costco price target raised to $1,125 from $1,115 at BTIG

BTIG analyst Bob Drbul raised the firm’s price target on Costco (COST) to $1,125 from $1,115 and keeps a Buy rating on the shares after its Q2 earnings beat. The company’s gross margin expanded 17 basis points, driven by 19 basis points of favorable developments in other businesses, while its membership income growth was up 14%, the analyst tells investors in a research note. Costco’s traffic and digital trends remained healthy, with comp traffic up 3.1% worldwide, the firm added.