** Costco beat Q1 revenue and profit expectations on Thursday as its bulk and discounted offerings, appealing to budget-conscious American shoppers, drove early holiday-season sales growth for the membership-only retailer
** 25 brokerages rate the stock "buy" or higher, 14 "hold"; median PT $1,020 - LSEG
STRONG MEMBERSHIP OUTLOOK DRIVES GROWTH
** Telsey Advisory Group (outperform," PT: $1,050) says COST continues to perform well despite uncertain operating environment and brokerage expects company to remain a profitable market share gainer, driven by solid sales and high membership renewal rates
** Roth MKM ("neutral," PT: $907) expects company's performance to converge back toward conventional food retail, with increased investment behind competitors such as Sam's Club and BJ's Wholesale Club
** BMO ("outperform," PT: $1,175) continues to see long runway for both unit and same-store sales growth given Costco's disciplined and differentiated approach to value and quality in retail
** Oppenheimer("outperform," PT: $1,075) says company's favorable long-term prospects are driven by its unique value proposition, global growth opportunities, and potential for sustainable top and bottom-line delivery despite increased competition
(Reporting by Akriti Shah) ((akriti.shah@thomsonreuters.com))
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