Truist analyst Scot Ciccarelli lowered the firm’s price target on Costco to $538 from $557 after its Q1 earnings miss but keeps a Buy rating on the shares. Despite some big-ticket softness, Q1 sales remained extremely steady on a stacked basis, while sales of necessities like food and sundries also remain "very strong", the analyst tells investors in a research note. Ciccarelli adds that he remains positive on Costco given the potential for a membership fee increase, a special dividend/payout to shareholders, and the company’s continual share gains.
Published first on TheFly
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