Overview

• Truist reaffirmed a Hold on September 5 with a $1,042 price target following Costco’s August sales update.
• U.S. comparable sales rose 6.7% in August excluding gasoline and FX, and total sales increased 6.9% on the same basis.
• Net sales for the quarter reached $84.4 billion, up 8% year over year and in line with Truist’s estimates.
• Truist cites valuation near 50 times projected 2025 EPS as the reason to remain on the sidelines.
• A Seeking Alpha analyst on September 17 maintained a Hold with a $1,000 target, noting strong fundamentals but little room for error ahead of expected FQ4 strength.