Costco Wholesale (COST) PT Raised to $975 at Baird

Baird analyst Peter Benedict raised the price target on Costco Wholesale (NASDAQ: COST) to $975.00 (from $850.00) while maintaining a Outperform rating.

The analyst commented: "Another month of robust core comps (global/U.S. +6.9%/+6.3%, both accelerated vs. May) and the announcement of a U.S./Canada fee increase (> $360M of incremental MFI across FY25/FY26 by our estimate) reinforce our positive view on COST. Some of the proceeds will surely be reinvested, but the move provides more oxygen to support COST’s sector leading traffic momentum, market share gains, and ultimately member loyalty. Raising our price target to $975 (rolls current FY25 valuation onto our initial FY26 EPS of $19.00)."

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