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Truist Analyst Maintains Hold on Costco Despite Strong Sales Growth
Truist Analyst Maintains Hold on Costco Despite Strong Sales Growth
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BTCCSquare news:
Costco Wholesale reported robust August sales, with net revenue climbing 8.7% to $21.56 billion fueled by e-commerce demand. Full-year sales reached $269.9 billion, marking an 8.1% annual increase. Comparable sales ROSE 6.3% globally, with digital channels surging 18.3%.
Truist Securities analyst Scot Ciccarelli remains cautious, retaining a Hold rating and $1,042 price target. Valuation concerns persist despite the retailer's consistent performance across grocery, household goods, and international markets.
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