Costco price target raised to $650 from $630 at Argus

Argus raised the firm’s price target on Costco to $650 from $630 and keeps a Buy rating on the shares after its Q4 results. Costco did not announce an increase in the membership fee as some investors might have hoped, but the company has always put customers first and focused on making sure that members get a lot for their money, the analyst tells investors in a research note, adding that the firm commends Costco management for focusing on long-term customer relationships and not raising the fee at a time when U.S. consumers are struggling with inflation. The firm adds that Costco continues to stand out as a company with consistent growth and high relevance to value-conscious customers.