Optimistic Outlook On Costco: Analyst Forecasts Robust EPS Growth And Digital Sales Surge
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $575. Feldman forecasts a total comparable sales of 2.4% versus 10.1% last year and a digital sales increase of 5.0% versus 3.9% last year. He expects Costco to continue generating high-single-digit to low-double-digit EPS growth in FY23 and FY24.
August 28, 2023 | 6:14 pm
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Costco's Outperform rating has been reiterated by Telsey Advisory Group analyst Joseph Feldman, with a price target of $575. The company is expected to report robust EPS growth and a surge in digital sales.
The analyst's optimistic outlook and the reiteration of the Outperform rating suggest a positive short-term impact on Costco's stock. The forecasted robust EPS growth and digital sales surge could attract investors, potentially driving the stock price up.
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