This Major Retail Stock Jumps To New Highs Ahead Of Earnings
Costco stock rose Wednesday and continues to push to record highs ahead of the retailers earnings late Thursday.
Price Target Lifted For Costco Stock
Evercore ISI raised its price target on Costco stock by $10 to $650 and maintained an outperform rating on shares going into 2024 with a membership price increase on the horizon.
Increasing the price of Costco memberships is "a question of when, not if," CFO Richard Galanti said in the retailer's Q3 earnings call.
Costco stock rose 2% on Wednesday ahead of earning. Shares rallied about 12% following a Sept. 28 breakout from a flat base. COST stock is extended above a buy zone for the pattern and on Dec. 8 and surpassed its prior all-time high of 612.27 from April 7, 2022.
Costco stock spiked roughly 40% so far this year.
Costco stock spiked roughly 40% so far this year.
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