Equity Research Reiterates Hold Rating On Costco (COST)

In a recent report, Equity Research has maintained the hold rating on Costco COST and price target of $80.00 while awaiting clarity on gross margins and a potential decrease in consumer spending in the upcoming summer. In the report, Equity Research said, "We are reiterating our Hold rating and $80.00 price target as the valuation is too rich for our blood in front of the potential for softer consumer spending this summer, and uncertainty on Costco's gross margins (they are moving inflationary goods). Moreover, note that Costco's shares are at all-time high, and have significantly outperformed the S&P 500 year to date; +11.49% versus 8%." Costco closed yesterday at $80.14.