Costco’s Target Boosted at JP Morgan (COST)

Posted on May 29, 2012 at 09:11 AM EDT

Membership warehouse operator Costco Wholesale Corporation (COST) on Tuesday caught some positive commentary from analysts at JP Morgan. The firm maintained its “Overweight” rating on COST and lifted its price target from $94 to $96. That new target suggests a nearly 14% upside to the stock’s Friday closing price of $84.48. Last week, analysts at [...]

Membership warehouse operator Costco Wholesale Corporation (COST) on Tuesday caught some positive commentary from analysts at JP Morgan.

The firm maintained its “Overweight” rating on COST and lifted its price target from $94 to $96. That new target suggests a nearly 14% upside to the stock’s Friday closing price of $84.48.

Last week, analysts at Goldman Sachs made a similar move on COST.

Costco shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of Costco (COST) have a 1.30% dividend yield, based on Friday’s closing stock price of $$84.48. The stock has technical support in the $79-$80 price area. If the shares can firm up, we see overhead resistance around the $87-$88 price levels.

Costco Wholesale Corporation (COST) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:

Costco Wholesale Corp

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates