Brokerages lift PT on Costco after panic-buying drives September comparable sales
** Brokerage Stifel hikes PT on U.S. retailer Costco Wholesale COST.O to $935 from $925
** COST posted total adj. comparable sales growth of 8.9% in September, while U.S. sales rose 9.3%, partly helped by a surge in shopping at warehouse clubs due to hurricane Helene and the ports strike
** Oppenheimer raises PT to $980 from $955, expects strong revenue momentum for the rest of 2024 owing to COST's merchandising prowess and better value appeal
** Says COST's monthly sales update offers positive signs for trends at Walmart-owned WMT.N Sam's Club and BJ's Wholesale Club BJ.N
** Citi notes shoppers are looking at clubs to stock up on essentials over traditional grocers and traffic may temper in coming months after the panic-buying in September, as per COST's management comments
** A total of 38 brokerages have a median PT of $963 on stock - data compiled by LSEG
** So far this year, Costco stock up 38% YTD
Reporting by Savyata Mishra in Bengaluru
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