Costco price target raised to $755 from $710 at Loop Capital

Loop Capital raised the firm’s price target on Costco to $755 from $710 and keeps a Buy rating on the shares. The firm is raising its FY24 revenue view to $260.6B from $253.7B and its FY25 revenue view to $285.6B from $275.5B to reflect the merchandising improvements being observed in warehouse clubs, the analyst tells investors in a research note. Loop Capital adds that sales growth is likely to matter more to investors this year as fee increase at Costco looks “unlikely”.