Evercore ISI analyst Greg Melich raised the firm’s price target on Costco to $650 from $640 and keeps an Outperform rating on the shares ahead of the company reporting fiscal Q1 results on Thursday December 14 after the market close. While the stock has been a “juggernaut” in the past month, which does set a high bar for the print, the firm favors Costco into 2024 for a likely membership fee increase, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on COST:
- COST Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Options Volatility and Implied Earnings Moves This Week, December 11 – December 15, 2023
- Costco price target raised to $625 from $600 at Telsey Advisory
- Costco November comps accelerating, says DA Davidson
- Costco price target raised to $585 from $530 at Citi
