COST - Costco Remains Steadfast Despite Uncertainties: Analyst Forecasts Robust FY24 Growth | Benzinga
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 is impacted by its ...