These Analysts Increase Their Forecasts On Costco After Better-Than-Expected Q1 Results

Core Insights - Costco Wholesale Corp. reported first-quarter revenue of $67.31 billion, exceeding analyst estimates of $67.14 billion [1] - The company achieved adjusted earnings of $4.50 per share, surpassing estimates of $4.27 per share [1] Financial Performance - Membership fees increased to approximately $1.33 billion, up from $1.17 billion in the same quarter last year [2] - Costco operates 923 warehouses, with 633 located in the U.S. [2] - The company ended the first quarter with approximately $16.22 billion in cash and cash equivalents [2] Stock Performance and Analyst Ratings - Following the earnings announcement, Costco shares fell 1.4% to trade at $872.06 [2] - Bernstein analyst Zhihan Ma maintained an Outperform rating and raised the price target from $1,134 to $1,146 [3] - Baird analyst Peter Benedict maintained an Outperform rating but reduced the price target from $1,125 to $1,000 [3] - Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating with a price target of $1,100 [3]