JPMorgan Lowers Costco (COST) Price Target to $1,025, Maintains Overweight Rating

Core Insights - Costco Wholesale Corporation (NASDAQ:COST) is recognized as one of the 15 Best Passive Income Stocks to buy currently [1] - JPMorgan has lowered the price target for Costco to $1,025 from $1,050 while maintaining an Overweight rating, citing that October sales met expectations despite some impact from the government shutdown [2] - Costco is adapting to changing consumer purchasing trends, with increased demand for lower-priced and private-label products, while sales of higher-priced discretionary goods have softened [3] Financial Performance - For fiscal 2025, Costco reported total net sales of $269.9 billion, reflecting an 8.1% increase from the previous year [4] - Net income for the year rose to $8.1 billion, surpassing the prior year's figure of $7.37 billion [4] - Online sales experienced robust growth, increasing by 15.6% for the full fiscal year [4] Business Model - Costco operates as a membership-based warehouse club, offering a wide range of bulk products, including groceries, electronics, and apparel, at discounted prices [5]