Costco Wholesale’s earnings report won rave reviews from Wall Street analysts. A falling share price suggests investors were disappointed by the lack of a membership fee increase, but that could create a buying opportunity.
Ciccarelli raised his target price on Costco stock to $619 from $597, and kept a Buy rating. The target is based on a multiple of 39 times the company’s expected earnings per share over the next 12 months. Still, investors should be able to relax and enjoy Costco’s steady performance for now, according to TD Cowen’s Oliver Chen. He raised his target price to $680 from $600 and kept an Outperform rating on the stock, citing consistent traffic and share gains in non-food categories.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Costco stock lower following Q4 earnings, cautious consumer outlookCostco topped Street earnings forecasts, but a cautious consumer, and a lack of new price increases, is holding back gains for the bulk retailer heading into the opening bell.
Source: startelegram - 🏆 248. / 63 Read more »
Costco earnings top Wall Street estimates, but stock fallsCostco Wholesale Corp. shares slipped in the extended session Tuesday even after the membership warehouse chain reported quarterly results that topped Wall...
Source: MarketWatch - 🏆 3. / 97 Read more »