Stifel raised the firm’s price target on Costco (COST) to $900 from $850 and keeps a Buy rating on the shares. The firm’s analysis of U.S. scanner data shows Amazon (AMZN), Costco and Walmart (WMT) accelerating U.S. grocery share gains since 2019, the analyst tells investors. Amazon and Costco have accounted for 11% and 12%, respectively, of U.S. grocery category dollar growth from 2019-2023, while Walmart with Sam’s accounted for 40% of category growth from 2020-2023, the firm’s analysis shows.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COST:
- Costco Stock (NASDAQ:COST): New Street High Target from Tigress Financial
- Walmart (NYSE:WMT) Slips amid Plans to Imitate Costco
- Costco (NASDAQ:COST) Travel Strikes a Chord, Investors Applaud
- Costco price target raised to $975 from $870 at Tigress Financial
- Costco Stock (NASDAQ:COST): Overvalued, But Shorting This Cult-Favorite Is Dangerous