The downgrade to Accumulate suggests a more conservative stance on Costco's stock by Gordon Haskett, indicating potential concerns or a belief that the stock may not outperform in the short term as previously expected. However, the high price target of $775 still suggests a positive view on the stock's value, creating a mixed signal for investors. The downgrade could lead to short-term volatility in Costco's stock price as the market digests this new position.