RBC Starts Coverage on Costco, Praises Model but Flags Limited Upside at Current Valuation
RBC Capital Markets has begun covering Costco Wholesale with a Sector Perform rating and a $1,000 price target, applauding the company’s market share gains, membership-driven profit model and growth runway while arguing those strengths are largely priced in at current multiples. The firm highlights robust membership economics, potential for additio…