Costco rises after hiking annual membership fee
** Shares of membership-only retailer Costco Wholesale COST.O rise 2.8% to $908.9 premarket
** COST to hike annual membership fees for the first time in seven years for its U.S. and Canada customers, in effect from Sept. 1
** COST increases fees to $65 from $60 for "gold star" and business members, and to $130 from $120 for executive members
** Jefferies raises PT to $1,050 from $860; see hike as a positive catalyst for earnings and COST's stock
** Says, EPS lift could be ~3% over each of the next 2 years, boosting sales and EBIT growth; impact of hike likely to be muted on membership trends
** Oppenheimer raises PT to $950 from $905; says it assumes 60% of fee hike benefit will be reinvested and expects shares' gains to continue
** COST up 34% YTD as of last close
Reporting by Pranav Kashyap in Bengaluru
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