, citing "too high" valuation and that investors are "overestimating" its growth prospects. The analyst Brandon Fletcher was also concerned that customers would shop elsewhere if the economy continues to slow down.
Shares of the membership warehouse club fell 1.57% during the session. Cramer called it "the first real price break" in Costco's stock in the past year. "The next time some analyst knocks down a best-of-breed stock with a cogent downgrade that's focused on valuation, you need to take advantage of that best-of-breed-opportunity weakness and you need to do some buying," said theMark Okerstrom, CEO, Expedia Group
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