Costco, slow but sure? Message Board

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Non-Tech : Costco, slow but sure?

COST 922.53

-0.1%

Nov 7 9:30 AM EST

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To: Zhivago who wrote (865)	3/2/1999 12:26:00 AM
From: Mel Fox	Read Replies (1) of 1147

Jim: I don't mean to "butt in" to your message ... But(t), the text of the Lehman recco is below ... I'm not sure what they mean by "in the universe" ... but, it could be fun to speculate!!! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ NEW YORK, March 1 (Reuters) - Lehman said Monday it raised Costco Cos. Inc.'s (Nasdaq:COST - news) 12-month price target to $95 from $83. -- Lehman now believes that Costco has the highest growth rate, 16 to 18 percent EPS growth over the next three to five years, in the universe. -- Earnings momentum is very strong aided by above budget comparable store sales, a trend Lehman expects to continue at a 6 to 8 percent rate over the next 3 to 5 years as well as the likely built in earnings stream from the further rollout of the executive membership program. -- On Thursday, March 4, 1999 Costco will report both fiscal 1999 second quarter earnings and February 1999 sales. -- Lehman's estimates are $0.65 per share, which is a $0.01 per share higher than the consensus estimate of $0.64 a share. -- Lehman believes the company is likely to beat its estimate due to a combination of solid sales in core basic categories and in ancillary businesses. -- Due to the strong momentum and our confidence in sales and earnings as well as the long term earnings growth rate of 16 to 18 percent, Lehman is increasing its price target on the shares of Costco.

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