Costco price target lowered to $820 from $830 at Loop Capital

Loop Capital lowered the firm’s price target on Costco to $820 from $830 but keeps a Buy rating on the shares after its March sales data. The company is reporting comps above consensus and traffic accelerated, but it’s prudent to moderate the firm’s above-consensus comp estimates for the rest of the fiscal year as inflation is stickier than the firm hoped and consumers may be “on edge”, the analyst tells investors in a research note.