Costco Remains Steadfast Despite Uncertainties: Analyst Forecasts Robust FY24 Growth

Benzinga ·  10/03 02:34

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on the shares of Costco Wholesale Corporation (NASDAQ:COST) with the same price target of $575. In September, gas prices increased in the low-single-digit to mid-single-digit range, which the analyst estimates should help the total comparable sales by about 40 basis points. The analyst expects traffic to be up 5.5% on top of 4.7% last year, offset by an average ticket decrease of 1.6%, reflecting lower discretionary spending and moderating inflation, added the analyst. The analyst projects digital sales to be flattish Y/Y since the growth of digital business

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