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BMO Capital Analyst Upgrade Costco (COST)

By Dividend.com,  October 15, 2012, 09:23:11 AM EDT

Analysts at BMO Capital upgraded Costco Wholesale Corporation ( COST ) from "Underperform" to "Market Perform" on Monday.

The analysts upgraded the wholesale retailer due to the company seeing higher sales and lower costs.

Costco's new price target is $106. That is an $8.45 (8.7%) increase from Friday's closing share price of $97.55.

Costco's share price was mostly flat in premarket trading on Monday. The stock is up 17% YTD.

The Bottom Line
Shares of Costco ( COST ) have a 1.13% dividend yield, based on Friday's closing stock price of $97.55. The stock has technical support in the $92-$95 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $102-$104 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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: COST



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