Costco Wholesale (COST) PT Raised to $780 at DA Davidson

DA Davidson analyst Michael Baker raised the price target on Costco Wholesale (NASDAQ: COST) to $780.00 (from $680.00) while maintaining a Neutral rating.

The analyst comments "Costco reported another solid quarter which we think should continue to support the premium valuation. Sales were largely known due to monthly reports and were characterized by share gains and accelerating trends versus last quarter in an environment where most retailers are struggling. This quarter, not only did COST take share in basic every day needs, but also saw improving trends in bigger ticket discretionary items as the company leaned into its value proposition and benefits from its improving logical capabilities. Some may be disappointed as yet another quarter passes without a fee increase. But, we see COST management’s point…if the model is working so well now, why do it? Reiterate NEUTRAL rating as our price target goes to $780 from $680 on a 45x our calendar 2025 EPS estimate."

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