Costco Wholesale (NASDAQ: COST) stock has cooled off since hitting an all-time high of $787 in March. The stock is currently sitting at $702, or 8% below the previous peak.

Analysts at Gordon Haskett are cautious on several top retail stocks, including Costco. The firm is still positive on the shares but lowered its rating from "buy" to "accumulate" with a price target of $775 -- about 11% above the current share price.

Gordon Haskett is still positive on the direction of Costco's business, but near-term uncertainties are starting to creep into the picture, such as rising gas prices, a shorter holiday shopping season than last year, and the uncertainty around the upcoming election.

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Source Fool.com