Costco Holds Strong Potential, Healthy Membership and Club Growth: Morgan Stanley
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on Costco Wholesale Corporation (NASDAQ: COST) and raised the price target from $535 to $585. Costco's Q4 revenues beat the consensus estimate, and the company is executing well with positive same-store sales and overall top-line growth. Membership trends remain healthy and productive club growth is continuing. The analyst expects continued compounding on top-line and EBIT in the mid-single-digit range.
September 27, 2023 | 7:16 pm
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Costco's stock is expected to perform well due to positive Q4 revenues, healthy membership trends, and overall top-line growth. The price target has been raised from $535 to $585 by Morgan Stanley.
The news is directly related to Costco and is positive. The company's Q4 revenues beat estimates, and it has healthy membership trends and overall top-line growth. This is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100