Reported 1 day ago
Truist Securities has reaffirmed its Hold rating on Costco Wholesale Corporation (NASDAQ:COST) after the company reported a 6.7% increase in comparable sales for August, excluding gas and foreign exchange effects. The total sales rose by 6.9%, reaching $84.4 billion for the quarter. Despite Costco's strong performance, Truist remains cautious due to valuation concerns, as stocks are trading at about 50 times the estimated earnings per share for 2025.
Source: YAHOO