Costco price target raised to $625 from $600 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Costco to $625 from $600 and keeps an Outperform rating on the shares. The company reported “solid” November performance that was generally better than most retailers, demonstrating the company continues to execute well in this uncertain operating environment, the analyst tells investors. Telsey anticipates Costco to remain a share gainer, with solid sales and high membership renewal rates. Looking forward into 2024, the company should continue to generate solid EPS growth, the firm says.