We’re upping our price target on Costco after another steady quarter fortifies our thesis

Customers walk by the membership counter at a Costco store on July 11, 2024 in Richmond, California. 

Justin Sullivan | Getty Images

Costco on Thursday reported ho-hum quarterly results, with a small topline miss being more than offset by strong profitability to deliver an earnings beat. The report didn’t blow us away, but it still offered plenty of reminders on why Costco investors should stick around.

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