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This Costco Bull Thinks the Stock May Split
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Main points
- Oppenheimer analysts maintained an “outperform” rating on Costco Wholesale on Thursday after the company reported strong December sales data.
- Catalysts for Costco shares “include a potential stock split,” analysts wrote.
- Costco shares closed at $927.37 on Wednesday, up 41% from last year.
Oppenheimer analysts stick with Costco Wholesale’s “outperform” rating (cost) after the retailer released Thursday Strong December sales figuresnoted that catalysts for its stock “include potential stock split“.
Oppenheimer did not provide further details, but companies with high stock prices often split their shares to make them cheaper retail investors.
Analysts say wholesaler ‘remains top pick’ after U.S. correction Comparable sales The year-on-year growth in December was nearly 10%. Their price target for the company is $1,075 per share, which is higher than the average Visible Alpha analyst estimate of $1,047.
Costco’s “gold bars and strong gift card portfolio continue to resonate with consumers,” analysts wrote.
Costco shares have risen nearly 40% in the past year, closing at $927.37 on Wednesday.
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