By Senad Karaahmetovic

Costco’s shares fell 2% premarket, despite Costco reporting better than expected Q3 earnings per share and comparable sales growth. This drove up Costco shares to an extended trading session Thursday.

The COST Q3 earnings per share were $3.04, up from $2.75 the previous year. Analyst consensus was for $3.02. The consensus estimate of $51.5billion was exceeded by total revenue at $52.60billion. Sales net reached $51.61 billion which was also more than expected at $50.45 trillion.

In constant currency, total company comparable sales, which exclude fuel, increased 10.8% during the period. This compares to the quarter of 2015, when there was a 15.1% increase and 9.37% expected.

COST has reported $984 Million in membership fees. This is 9.2% more than the YoY average and surpasses consensus estimates of $971.5 millions.

UBS analyst Michael Lasser cut the price target to $595.00 per share from $625.00 and said the results “s featured more positives than negatives.”

Lasser expects COST “to take further market share, and note that its MFI gives it a degree of consistency that most retailers can’t match.” For him, the risk/reward continues to skew towards the upside.

Citi analyst Paul Lejuez lowered the price target to $590.00 from $510.00, and he remains Neutral.

“COST is well positioned for this type of environment with its attractive prices and strong value proposition. We believe strong results should continue, but we still struggle with the multiple, which leaves little room for error,” Lejuez told clients in a note.