JPMorgan Cuts Costco Price Target to $1,015 Amid Electronics Cost Concerns

JPMorgan Chase & Co. lowered its price target for Costco Wholesale (NASDAQ:COST) to $1,015 from $1,100 in a note issued to investors on Friday.

The brokerage maintains an 'overweight' rating on the retailer's stock and sees potential upside of 10.42% from the previous close.

This move comes after Costco reported fourth-quarter earnings that beat analyst expectations, with net income rising 14.9% to approximately $3 billion.

Several analysts remain bullish on Costco, but some caution that the company's premium valuation and potential margin pressure due to rising electronics costs could limit further multiple expansion.