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Upgrade Alert for Costco Wholesale (COST)

By David Diaz

Costco Wholesale (NASDAQ:COST) was upgraded from Neutral to Buy at Goldman Sachs today. The stock closed yesterday at $152.52 on volume of 3.5 million shares, above average daily volume of 2.1 million.

Costco Wholesale Corporation operates wholesale membership warehouses in multiple countries. The Company sells all kinds of food, automotive supplies, toys, hardware, sporting goods, jewelry, electronics, apparel, health and beauty aids, as well as other goods.

Costco Wholesale (NASDAQ:COST) has potential upside of 7.0% based on a current price of $152.52 and analysts' consensus price target of $163.24. The stock should hit resistance at its 50-day moving average (MA) of $152.54, as well as support at its 200-day MA of $151.59.

In the past 52 weeks, shares of Costco Wholesale have traded between a low of $117.03 and a high of $169.73 and closed yesterday at $152.52, which is 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Costco Wholesale. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Costco Wholesale in search of a potential trend change.

Keywords: analyst upgrades/downgrades costco wholesale

Ticker(s): COST