Wells Fargo raised the firm’s price target on Costco (COST) to $950 from $900 and keeps an Equal Weight rating on the shares. The firm notes Costco delivered another strong month with 6.4% comparable-store sales growth over difficult year-over-year comparisons, led by U.S. and Canada. The company is “comping the comp” with weather tailwinds, but Wells continues to see balanced risk/reward at current valuation.
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