Costco (COST) Price Target Raised on Strong Global Sales, Says Loop Capital

Costco Wholesale Corporation (NASDAQ:COST) ranks among the top consumer staples stocks according to hedge funds. Loop Capital analysts reaffirmed their Buy rating on Costco Wholesale Corporation (NASDAQ:COST) and increased their price target from $1,110 to $1,170 on June 5. The update came in response to the company’s robust international same-store sales growth, which exceeded both their projections and the general consensus in the market.

While other international sales jumped by 8% in May, Costco’s core same-store sales increased by 6%. The analysts’ positive outlook was further influenced by the fact that the impact of foreign exchange was less damaging than had been previously expected.

The analysts observed that Costco Wholesale Corporation (NASDAQ:COST) has been sluggish to raise prices, which they think is contributing to the company’s growth in market share. They anticipate that this trend will continue as inflation impacts tariffed products.

A membership-based warehouse club, Costco Wholesale Corporation (NASDAQ:COST) offers bulk discounts on an array of products, including food, electronics, and household products.

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