Costco Price Target Raised At Tigress Financial
2022.04.14 23:11
By Sam Boughedda
Investing.com — Costco Wholesale’s (NASDAQ:COST) 12-month price target has been increased to $678 from $520 at Tigress Financial Partners.
Analyst Ivan Feinseth reiterated a Buy rating on the stock, stating in a note to investors that Costco’s “resilient, loyal customer base and resilient business model continue to drive solid performance and growth.”
Feinseth also pointed to the fact that the company continues to experience strong consumer demand and membership growth.
Costco’s membership retention rate sits around the 90% level.
“COST remains well-positioned to benefit in a post-pandemic environment as consumer spending shifts from staples to discretionary purchases, driving further share price gains,” added Feinseth who believes further upside in the shares exists, with its price target representing a potential total return with dividends of over 14% from current levels.
Costco stock is down 0.10% Thursday.
