In a report released yesterday, Kate McShane from Goldman Sachs maintained a Buy rating on Costco, with a price target of $1,218.00.
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Kate McShane’s rating is based on a combination of factors including Costco’s consistent performance despite some sales figures falling short of expectations. Although the November same-store sales growth was slightly below consensus, Costco has shown resilience with a steady increase in worldwide traffic, indicating strong customer engagement.
Furthermore, even with a slight deceleration in U.S. traffic, the company has managed to maintain robust ticket growth. This balance between traffic and ticket sales suggests that Costco is effectively managing its operations and customer base. McShane’s Buy rating reflects confidence in Costco’s ability to navigate current market conditions and continue delivering value to its shareholders.
In another report released today, Evercore ISI also maintained a Buy rating on the stock with a $1,025.00 price target.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COST in relation to earlier this year.