#4 - Costco (NASDAQ:COST)
Costco (NASDAQ:COST) shouldn’t be on this list, should it? After all, people shop at Costco no matter what the economic conditions right? It’s fair to say that Costco can meet the definition of a defensive stock. However, there’s a segment of the population that’s getting out and about in ways they haven’t done in more than a year.
And that seems to be good news for Costco, which I like more for its technical setup. COST stock has strong support at levels not too far below its price (as of this writing) of $377.35. That takes a lot of the risk out of this stock and creates a scenario under which the stock looks like it has room to run.
Analysts seem to agree. While the consensus price target is around $390, recent price targets are significantly higher. And Costco reports earnings at the end of May. A strong report will add support to these projections and would likely raise the floor on COST stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.
Read More - Current Price
- $964.01
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 18 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $908.81 (5.7% Downside)
