S&P Equity Research Increases Costco Wholesale Price Target to $473.00 (COST)
Analysts at S&P Equity Research increased their price target on shares of Costco Wholesale (NASDAQ:COST) from $459.00 to $473.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the stock. S&P Equity Research’s price target indicates a potential upside of 297.81% from the company’s current price.
Costco Wholesale (NASDAQ:COST) traded up 1.52% on Tuesday, hitting $118.90. The stock had a trading volume of 2,538,332 shares. Costco Wholesale has a 52 week low of $109.50 and a 52 week high of $126.12. The stock has a 50-day moving average of $116.6 and a 200-day moving average of $114.8. The company has a market cap of $52.113 billion and a price-to-earnings ratio of 26.21.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.07 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.09 by $0.02. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.70 billion. During the same quarter last year, the company posted $1.04 earnings per share. Costco Wholesale’s revenue was up 4.8% compared to the same quarter last year. Analysts expect that Costco Wholesale will post $4.59 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Costco Wholesale from a “neutral” rating to a “conviction-buy” rating in a research note on Tuesday. They now have a $136.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Costco Wholesale in a research note on Tuesday, July 15th. They now have a $123.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Costco Wholesale in a research note on Tuesday, June 24th. They set an “overweight” rating and a $134.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $156.25.
Costco Wholesale Corporation (NASDAQ:COST) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea.
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