Cowen Remains Bullish on Costco Wholesale (COST) Despite 2Q EPS Miss

Cowen maintained an Outperform rating and $162.00 price target on Costco Wholesale (NASDAQ: COST) following the company's 2Q earnings report. COST reported an EPS miss for 2Q, driven by higher than expected SG&A spending, and slightly lower sales.

Analyst Oliver Chen commented, "We're not discouraged by 2Q EPS miss ($1.24 vs. Street $1.27) as higher SG&A was main culprit of miss, while GM & membership better than est.. Concurrent Feb comps report showed US comps (ex. gas) of +4% (+11% on 2-yr) better than Jan's +1% (+8% on 2-yr) proving Jan. slowdown was temporary (weather/ Super Bowl shift). Conf. Call at 11am ET."

For an analyst ratings summary and ratings history on Costco Wholesale click here. For more ratings news on Costco Wholesale click here.

Shares of Costco Wholesale closed at $152.79 yesterday.

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