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 .
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