Costco Wholesale will report April same-store sales data on Wednesday—and analysts are expecting another blowout quarter for the discounter, even though that strength hasn’t helped the stock much.
By contrast, Telsey Advisory Group’s Joseph Feldman reiterated an Outperform rating and raised his price target to $390 from $375. He’s modeling for core comps to climb 19.5% last month. Feldman also believes the company will benefit from the shift in Easter, as well as easy comparisons. “Overall, we expect another solid monthly sales report, highlighting Costco’s high member loyalty, focus on value, and ongoing improvement in digital.”
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