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January 23, 2013 at 09:25 AM EST
Bernstein Upgrades Costco to “Market Perform” (COST)

On Wednesday Bernstein analysts boosted the rating on Costco Wholesale Corporation (COST) as the discount chain is expecting healthy sales growth and stable margins for the year.

The analysts boosted COST rating from “Underperform” to “Market Perform.” The price target is $102, which is slightly less than Tuesday’s closing price of $102.15.

Costco shares were flat during pre-market trading on Wednesday. The stock is up +25.48% over the past year.

The Bottom Line
Shares of Costco (COST) have a 1.08% dividend yield, based on last night’s closing stock price of $102.15. The stock has technical support in the $95-$100 price area. The stock is trading near the all-time highs of $105-$106 a share.

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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