Truist Securities Maintains Hold Rating on Costco Wholesale
Truist Securities reiterated a Hold rating on Costco Wholesale citing high valuation despite the company reporting 8.0% U.S. comparable sales growth for September.
Costco Wholesale reported September U.S. comparable sales of 8.0%, excluding fuel and foreign exchange, marking an increase from the 5.6% growth seen in August. Total comparable sales for the period reached 7.6%, driven by mid-single digit growth in food and sundries, high single digit growth in non-food categories, and mid-40% growth in gasoline sales.
Despite these figures, Truist Securities reiterated a Hold rating on the company with a price target of $955.00. The firm cited a high valuation and a slowdown in membership growth as primary reasons for its cautious stance. Other financial institutions provided varying outlooks following the fiscal 2026 results. Freedom Broker maintained a Buy rating but lowered its price target to $1,010 due to valuation concerns.
Other analysts remained more optimistic or neutral. Telsey Advisory Group and Evercore ISI both maintained Outperform ratings, while D. A. Davidson & Co. held a Neutral rating but raised its price target to $1,040.
