Investors should buy Costco shares because it is one of the few retailers that can succeed versus e-commerce competition, according to Barclays, which upgraded the wholesale club chain to overweight from equal weight.
"Given Costco's high-quality merchandise in food, low prices, and the frequency of purchase for these items, we believe that the company's customers will remain loyal and believe Costco's price positioning and quality in food insulates it from AMZN," analyst Karen Short wrote in a note to clients Thursday.
Short raised her price target for Costco to $185 from $170, representing 9 percent upside from Thursday's close.
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