Jefferies analyst Corey Tarlowe reiterated a Buy rating on Costco (COST – Research Report) today and set a price target of $1,180.00.
Corey Tarlowe has given his Buy rating due to a combination of factors that highlight Costco’s strong performance and growth potential. Costco reported an impressive sales increase in March, with net sales rising by 8.6% and core comparable sales up by 9.1%. The company’s e-commerce segment continues to excel, showing a significant growth rate of 17.5% in March, which is an improvement from the previous month.
Despite facing foreign exchange headwinds, which negatively impacted international sales, Costco’s overall performance remains robust. The company experienced a notable increase in traffic both globally and in the U.S., with the Midwest, Northeast, and Southeast regions performing particularly well. These positive trends, combined with strong sales in various departments such as Fresh and Non-foods, support the Buy rating as Costco demonstrates resilience and growth in a challenging market environment.
According to TipRanks, Tarlowe is a 5-star analyst with an average return of 10.2% and a 54.51% success rate. Tarlowe covers the Consumer Cyclical sector, focusing on stocks such as Costco, TJX Companies, and Abercrombie Fitch.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $1,035.00 price target.