Evercore ISI updated its price target for Costco Wholesale (NASDAQ:), increasing it to $990 from the previous target of $985, while maintaining an Outperform rating on the stock. The firm’s analysis highlighted Costco’s robust September sales performance, which showed a 9% increase in U.S. and Global Core Comparable Sales.

Costco’s appeal to consumers has been attributed to its combination of extreme value, a diverse range of merchandise, and convenience across multiple channels. Even after adjusting for a roughly 200 basis points boost from Hurricane Helene and port strikes in the U.S., core growth remained strong at over 7%, which is more than double the pace of broader U.S. retail sales.

The retailer’s momentum continues to build,…