Christopher Horvers, an analyst from J.P. Morgan, maintained the Buy rating on Costco. The associated price target remains the same with $1,115.00.
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Christopher Horvers has given his Buy rating due to a combination of factors that highlight Costco’s strong performance and potential for growth. Despite a slight shortfall in U.S. core comps compared to Street expectations, Costco exceeded buy-side expectations and showed strong performance in Canada and other international markets. The company’s traffic and average ticket sales have increased, and e-commerce sales have shown significant growth.
Horvers also notes that Costco’s global momentum, share gains across various regions, and emerging advertising revenue benefits contribute to its strong fundamental story. The retailer’s success in every country it has entered and its leading position in the retail sector further support the Buy rating. The company’s leverage to a cyclical upswing in big-ticket items and its robust consumable assortment are additional factors that bolster its growth prospects, making it a compelling investment choice.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $1,095.00 price target.
COST’s price has also changed slightly for the past six months – from $927.370 to $982.090, which is a 5.90% increase.