UPDATE: Stifel Nicolaus Raises PT on Costco Ahead of July Sales Results

In a report published Monday, Stifel Nicolaus analyst David Schick reiterated a Buy rating on Costco (NASDAQ: COST), and raised the price target from $107.00 to $130.00.

In the report, Stifel Nicolaus noted, “COST is scheduled to report July sales results on Thursday, 8/8, before the market open. We expect headline comp of +5% (Street +4.6%), after +6% in June, +5% in May, and +4% in April. We expect core U.S. comp (ex-gas & f/x) of +5%, below +6% in June. The U.S. adjusted core comp comparison is roughly 500 bp more difficult than June (the most difficult 1-year comparison since January), but we note the a steady comp comparison on a 2-year basis. We believe solid comp trends continue as compares are somewhat easier than they look. Our READ survey continues to indicate a favorable consumer spending environment.”

Costco closed on Friday at $119.37.