Truist raised the firm’s price target on Costco to $873 from $815 and keeps a Buy rating on the shares. The company delivered a strong quarter and its consistency remains virtually unmatched in retail, the analyst tells investors in a research note, adding that while many retailers continue to note softness in discretionary goods, Costco has grown their appliances business for several quarters now. Truist further states that Costco’s discretionary product sales actually posted the strongest growth in the company this quarter, and this performance could have material implications for the rest of its Hardlines/Broadlines coverage.
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