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Costco Wholesale Corporation (NASDAQ:COST) Sees Positive Analyst Outlook and Price Target Increase
Oct 17, 2024 4:11 PM - Rayan Ahmad
Image credit: Google Images
- Joseph Feldman from Tigress Financial set a new price target for Costco (NASDAQ:COST) at $1,065, indicating a potential increase of approximately 19.91% from its current trading price.
- The average brokerage recommendation (ABR) for Costco is 1.80, suggesting a favorable outlook between Strong Buy and Buy.
- Costco's current stock price is $886.90, with a market capitalization of approximately $392.96 billion, underscoring its significant presence in the retail sector.
Costco Wholesale Corporation (NASDAQ:COST) is a leading global retailer known for its membership-only warehouse clubs. The company offers a wide range of merchandise, including groceries, electronics, and apparel, at competitive prices. Costco competes with other major retailers like Walmart and Target. On October 17, 2024, Joseph Feldman from Tigress Financial set a new price target for Costco at $1,065, indicating a potential increase of approximately 19.91% from its current trading price of $888.17.
Wall Street analysts are optimistic about Costco's future performance. The company's average brokerage recommendation (ABR) is 1.80 on a scale from 1 to 5, where 1 indicates a Strong Buy. This suggests a favorable outlook, as the ABR falls between Strong Buy and Buy. Out of 33 brokerage firms, 18 have rated Costco as a Strong Buy, and three have given it a Buy rating, accounting for 54.6% and 9.1% of all recommendations, respectively.
Costco's current stock price is $886.90, reflecting a slight decrease of 0.48, or -0.0541% in percentage terms. The stock has traded between $884.26 and $895.33 today. Over the past year, Costco's stock has reached a high of $923.83 and a low of $540.23. The company's market capitalization is approximately $392.96 billion, highlighting its significant presence in the retail sector.
The trading volume for Costco on the NASDAQ exchange is 419,173 shares. This level of activity indicates investor interest, which could be influenced by the positive sentiment from analysts. Investors often consider these recommendations when making buy, sell, or hold decisions, potentially impacting Costco's stock price.
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