Costco Stock Outlook: Wall Street Says Buy After Membership Price Hike - Markets Insider

Category: Finance

Costco's stock is considered a buy after the company raised its annual membership fees for the first time in seven years. Bank of America expects Costco to gain market share and increase earnings visibility. The stock price target was raised to $962 per share, with a 12% potential upside. Costco's annual membership fees will increase on September 1, with the Executive membership fee rising to $130 and offering a 2% cash back reward. The fee hike is expected to boost membership fee income by $400 million over the next two years.

Keywords: Costco, stock, membership fees, Bank of America, earnings, market share

Source: Markets Insider

Update At: 7/12/2024

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