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Wall Street sets Costco stock price for the next 12 months

Wall Street sets Costco stock price for the next 12 months

Costco (NASDAQ: COST), the world’s third-largest retail chain, has been on a decisive uptrend since the very start of 2023 and rose approximately 39% within the year while continuously reporting strong membership figures and revenue.

The company’s rise – both in recent months and generally since its initial public offering (IPO) – has not only made COST stock a more lucrative investment than the gold the retailer started selling in September 2023 but also continued in 2024.

Since the start of the year, the firm’s shares rose 11.27% and they are also 3.55% in the green in the last 30 days. The last 5 trading days, however, saw a slight decline of 0.10%, and the last full market session – on Friday, February 16 – closed 0.07% in the red at $723.99.

COST YTD stock price. Source: Finbold

Costco retains ‘strong buy’ rating

The most recent slight downtrend did not alter analysts’ opinions on Costco shares, per the data retrieved from the stock analysis platform TipRanks. In fact, out of 28 experts represented on the platform, 21 rate the stock as “buy,” and the remaining 7 are neutral. At press time, COST has no “sell” ratings.

On the other hand, the average 12-month price target is somewhat less bullish as – at $723.70 – it constitutes a slight 0.04% downside compared to the latest close. 

The highest price target – assigned by UBS – would, however, see Costco surge 13.95% to $825. The lowest target, forecast by the investment bank Roth/MKM, would, in turn, see a downside of 16.99% to $601.

COST analyst rating. Source: TipRanks

Generally, February 2024 saw a string of adjustments to the rating of Costco stock with some of the other notable examples including Citigroup (NYSE: C) – which recommends holding and projects a 12.98% downside to $630 – and Deutsche Bank – which reiterated its “buy” rating on February 8 while forecasting a 6.91% upside to $774.

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