Truist analyst Scot Ciccarelli lowered the firm’s price target on Costco (COST) to $926 from $1,033 and keeps a Hold rating on the shares. The company posted another strong quarter with 5.9% U.S. comps and 6.4% enterprise comps, the analyst tells investors in a research note. Truist adds however that while the membership growth remains healthy at 5.2%, it has slowed a bit in recent quarters due to the increase in digital sign-ups, where renewals are slower, warning that this may weigh a bit on the stock’s multiple.
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