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This Costco Bull Thinks the Stock May Split
Key Takeaways
Oppenheimer analysts stuck with their "outperform" rating on Costco Wholesale ( COST ) Thursday after the retailer posted strong December sales numbers , noting that catalysts for its shares "include a potential stock split ."
Oppenheimer didn't give more details but companies with high share prices often split their stock to make it more affordable to retail investors .
The analysts said the wholesaler "remains a top pick" after its adjusted U.S. comparable sales rose nearly 10% year-over-year in December. Their price target for the company is $1,075 per share, above the analyst consensus of $1,047 from Visible Alpha.
Costco's "combination of gold bars and a powerful gift card assortment continues to resonate with consumers," the analysts wrote.
Costco shares have risen nearly 40% over the past year, closing Wednesday at $927.37.
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