Costco price target raised to $815 from $741 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Costco to $815 from $741 and keeps a Buy rating on the shares after its Q2 earnings beat. The company continues to generate the steadiest traffic growth in big cap retail, and sales in many discretionary categories are starting to accelerate, suggesting that consumers are starting to feel more financially secure, the analyst tells investors in a research note. Truist adds that the next membership fee increase “will eventually happen”.