Roth MKM raised the firm’s price target on Costco (COST) to $907 from $755 and keeps a Neutral rating on the shares after its Q1 earnings beat. The company is capturing a channel shift toward at-home consumption, though its renewal rates decreased by 10bps, with digital renewals weighing on growth, the analyst tells investors in a research note. Costco’s core gross margin returned to expansion however, and the company’s is proving to be “remarkably consistent” with strong share gains while offering “high ROIC opportunities”, Roth MKM added.
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Read More on COST:
- Costco price target raised to $1,000 from $950 at Wells Fargo
- Costco price target raised to $900 from $880 at DA Davidson
- Costco price target raised to $1,090 from $975 at TD Cowen
- Costco price target raised to $1,050 from $950 at Melius Research
- Costco price target raised to $940 from $850 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
