Sam Boughedda

Investing.com – Costco Wholesale (NASDAQ) 12-month price target has been increased to $678 from $520 at Tigress Financial Partners.

Analyst Ivan Feinseth reiterated his Buy rating of the stock. In a note to investors, Feinseth stated that Costco’s resilience, loyal customer base, and resilient business structure continue to drive solid performance, growth, and continued success.

Feinseth also highlighted the company’s continued strong consumer demand, and member growth.

Costco has a membership retention rate of around 90%.

Feinseth said, “COST still remains well-positioned in a post pandemic environment as consumer spend shifts from staples and discretionary purchases. Driving further share price increases.” Feinseth believes there is more upside to the shares, with its price target representing an opportunity total return of 14% from the current level.

Costco shares are down by 0.10% on Thursday