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  • Share:

Costco's May sales rise 8.1%, analysts maintain buy rating

Investing.com - Costco Wholesale Corp (NASDAQ:COST) reported an increase of 6.5% in same store sales (excluding gas and foreign exchange impacts) for May. This figure exceeded the consensus estimate of 6.0% and showed acceleration from the 5.5% growth reported in April.

A significant rise in net sales was also reported, reaching $19.64 billion, an 8.1% increase compared to the $18.16 billion reported in the same period last year.

Analysts from Goldman Sachs (NYSE:GS) have maintained their 'Buy' rating, setting a 12-month price target of $851.

Stifel analysts set a price target of $850, attributing this premium valuation to Costco's annuity-like membership income and above-peer comparable growth.

However, they also noted potential risks, including competition from Amazon.com Inc (NASDAQ:AMZN) and other e-commerce retailers, slowing macroeconomic trends, rising competition in the warehouse club space, lower renewal rates and foreign exchange pressures.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.