Evercore ISI analyst Greg Melich raised the firm’s price target on Costco to $650 from $640 and keeps an Outperform rating on the shares ahead of the company reporting fiscal Q1 results on Thursday December 14 after the market close. While the stock has been a “juggernaut” in the past month, which does set a high bar for the print, the firm favors Costco into 2024 for a likely membership fee increase, the analyst added.
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