Costco Stands Strong Despite Revenue Dip, Core Shopping Drivers Intact: 4 Analysts On FQ3 Print
Portfolio Pulse from Priya Nigam
Costco Wholesale Corporation (NASDAQ:COST) shares recovered slightly after a revenue miss in FQ3. Analysts from Bernstein, Truist Securities, BMO Capital Markets, and Oppenheimer maintained Outperform and Buy ratings, with price targets ranging from $550 to $567. Costco's core shopping drivers remain intact, and the company is expected to emerge from the consumer spending slowdown with a higher market share.
May 26, 2023 | 3:12 pm
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Costco's FQ3 revenue miss led to a slight recovery in shares. Analysts maintain Outperform and Buy ratings, with price targets between $550 and $567. The company's core shopping drivers remain intact, and it is expected to gain a higher market share after the consumer spending slowdown.
The article mentions that Costco's core shopping drivers remain intact despite the revenue miss, and analysts maintain positive ratings on the stock. This indicates that the company is expected to perform well in the future and gain a higher market share after the consumer spending slowdown. The positive outlook from analysts and the company's strong fundamentals support a likely short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100