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Costco upgraded by Wells Fargo, predicts special dividend soon

“Wells Fargo raised its rating for Costco shares to outperform from market perform, citing the company’s financial benefits from tax reform” writes Tae Kim for cnbc.com. Costco shares will thrive this year due to larger than expected capital return to shareholders, according to one Wall Street firm.”The potential for the declaration of a special dividend sooner than expected could represent another catalyst for the stock.”. The company’s stock rose 2.4 percent Monday after the report.He predicts Costco’s cash position will rise faster than previous years due to the benefits from corporate tax reform.
 
Source: cnbc.com



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