Costco price target raised to $1,090 from $975 at TD Cowen

TD Cowen analyst Oliver Chen raised the firm’s price target on Costco (COST) to $1,090 from $975 and keeps a Buy rating on the shares. The firm said Costco’s newness, quality, and value resonates strongly with choiceful US consumers. Key tailwinds include a shift to food at home which uplifts meat and produce, member bifurcation apparent on strength in both premium and cheaper proteins, strong seasonal non-food sales, and big ticket discretionary momentum in eComm.