Costco target jumps to $1,110 at JPMorgan, driven by sales momentum

JPMorgan Chase & Co. raised its price target for Costco Wholesale (NASDAQ:COST) to $1,110 from $1,060. The firm maintained its overweight rating on the stock. This new target represents a potential 12.66% upside from the previous closing price.

Analysts cite bullish fundamentals and strong sales momentum for the increase. Costco recently raised its quarterly dividend by 13.1% to $1.47 per share. This dividend growth highlights the company's robust cash flow.

Mizuho also increased its price target for the retailer to $1,100. Telsey Advisory Group and Wells Fargo reiterated their positive outlooks on the company.