Wall Street sets Costco stock price target for next 12 months

After halting its decline by mid-September, Costco (NASDAQ: COST ) stock has been gaining momentum and, judging by the latest Wall Street analyst notes, the equity is likely to accelerate its rally in the coming 12 months. Specifically, Tigress Financial’s Ivan Feinseth revised his outlook for COST shares on October 15 when he replaced the previous $1,065 forecast with the new $1,250 prediction, while retaining the previous ‘Buy’ rating. According to the analyst, the estimated 27.81% upside from $978.01 at the latest close is justified by a veritable laundry list of bullish catalysts. Costco has been benefiting from strong sales, membership growth, rising traffic, general infrastructure expansion, artificial intelligence ( AI )-enhanced shopping, and strengthening earnings.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Finbold.