I have a theory about Costco. When the economy gets confusing, when tariffs are rising, inflation is creeping back, and nobody is quite sure what happens next, people don’t stop spending.

They just get smarter about where they spend.

Costco (COST) is where smart spending goes.

That theory got fresh support this week. April sales data showed total net sales of $23.92 billion for the four weeks ended May 3, 2026, up 13% year over year, according to Costco’s monthly sales release.

Bank of America reviewed the numbers in a note shared with TheStreet and maintained its Buy rating with a $1,185 price target, implying meaningful upside from the current price around $1,012.

“Costco’s comp consistency continues to shine during…