Costco Wholesale Corp

COST: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$414.00	Kcf	Ycpyllmxb

Costco Earnings: Attractive Prices and Product Assortment Drive Further Traffic Gains; Shares Rich

Noah Rohr

May 31, 2024

Wide-moat Costco posted impressive fiscal 2024 third-quarter results, and we plan to slightly raise our $500 fair value estimate as we remain confident in its financial outlook. Still, we think shares are significantly overvalued.

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