Costco's High Member Loyalty Is A Win: Analyst Keeps Company In 'Outperform' Lane
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Joseph Feldman has reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with an unchanged price target of $575. Feldman projects a 19% EPS growth to $5.00 for 4Q FY23, higher than the FactSet consensus of $4.79. Sales growth is estimated at 8.9% to $77.1 billion, with a headline comparable sales of 1.1%. The analyst expects Costco to remain a share gainer due to its value-focused merchandising and high member loyalty.
September 18, 2023 | 6:31 pm
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Costco's Outperform rating has been reiterated by Telsey Advisory Group analyst Joseph Feldman, with an unchanged price target of $575. The analyst projects a 19% EPS growth for 4Q FY23, higher than the FactSet consensus. Costco's high member loyalty and value-focused merchandising are expected to help it remain a share gainer.
The Outperform rating and the unchanged price target of $575 indicate the analyst's positive outlook on Costco. The projected EPS growth of 19% for 4Q FY23, which is higher than the FactSet consensus, suggests that the company's financial performance is expected to be strong. This, along with the high member loyalty and value-focused merchandising, is likely to boost investor confidence and potentially drive the stock price up in the short term.
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IMPORTANCE 80
RELEVANCE 100