Where Will Costco Stock Be in 1 Year?
Costco (NASDAQ: COST) posted a mixed quarterly report on March 2. In the second quarter of fiscal 2023, which ended on Feb. 12, the warehouse retailer's revenue grew 6.5% year over year to $55.3 billion but missed analysts' estimates by $340 million. Its adjusted comparable store sales, which exclude shifting foreign exchange rates and gas prices, rose 7%.
Its net income increased 13% to $1.5 billion, or $3.30 per share, and cleared the consensus forecast by seven cents. Those headline numbers were stable, but Costco's stock dipped after the report and remains down about 10% over the past 12 months. Will this blue chip retail stock head higher by the end of 2023?
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Source Fool.com
