On CNBC's "Fast Money Halftime Report," Shannon Saccocia discussed Jefferies' decision to upgrade Costco Wholesale Corporation (NASDAQ:COST) from Hold to Buy. The analyst also raised the price target for the stock from $321 to $435.
Saccocia owns the stock and she agrees with the upgrade. She continues to like Costco and she sees it as a high conviction name. Saccocia believes that people who start buying at Costco almost always return and stay as a customer. She also likes the increase of non-essential spending in Costco.