Costco price target raised to $700 from $614 at Barclays

Barclays analyst Seth Sigman raised the firm’s price target on Costco to $700 from $614 and keeps an Equal Weight rating on the shares following quarterly results. The firm says it was an overall a strong quarter, although February sales along with gross margin were not as good, and expectations were high. Healthy traffic and membership growth support Barclay’s upward estimate revisions. That said, the firm believes the stock is pricing in a lot at this point, keeping it on the sidelines.