Costco (COST) Stock: $585 Price Target From Loop Capital

By Amit Chowdhry ● Dec 2, 2021
  • The shares of Costco Wholesale Corporation (NASDAQ: COST) have received a price target of $585 from Loop Capital. These are the details.

The shares of Costco Wholesale Corporation (NASDAQ: COST) have received a price target of $585 from Loop Capital. And Loop Capital analyst Laura Champine increased the price target on Costco from $555 while maintaining a “Buy” rating on the shares.

Champine noted that the company’s first-quarter retail sales beat her expectations as 4 more store openings and much better new store productivity fueled a retail sales beat. And Champine pointed out that Costco’s long-term growth and stability in membership fee income deserve modestly higher multiples than the current valuation of 33-times expected 2023 earnings.

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