Costco price target raised to $935 from $909 at Truist

Truist raised the firm’s price target on Costco (COST) to $935 from $909 but keeps a Hold rating on the shares. The company delivered a solid quarter as sales trends remain strong and margins inched higher once again, the analyst tells investors in a research note. Costco continues to deliver strength across categories, with fresh foods and non- foods up high single digits and offerings resonating across the board with consumers who have becomes increasingly selective in their spending, though the stock’s valuation has become “extremely stretched” at 55-times expected forward earnings, Truist adds.