Prosper Trading’s CEO Scott Bauer made an appearance on TD Ameritrade Network’s morning show today.
He discussed Costco (Ticker: COST).
Interestingly enough, Bernstein downgraded COST to underperform from market performthis morning saying:
“We think valuation is too high and investors are likely overestimating the continuation of COST’s trend and/or pace of reinvigorated growth,” Bernstein’s Brandon Fletcher says in a note to clients.
Fletcher says Costco investors are overpaying for the quality of earnings, dividends and defensiveness.
Scott makes some great counterpoints as he makes a bullish case for this “best in class” stock.
Follow him on Twitter @CboeSIB