Thanks to the coronavirus pandemic, the lines are longer than normal right now at Costco for bulk purchases of soup, toilet paper and chicken.
And to many top minds on Wall Street, that makes Costco’s stock (COST) still one of the best names to own in this insanely unpredictable market. Well that along with Costco boasting more than $7.7 billion in cash, a very reasonable debt load and a 1% dividend yield (which looks great in the era of 0% interest rates).
The sell-side optimism comes even as Costco’s stock has gained 5% during the past three months of broad market upheaval. Further worth mentioning is that because of its relative safe-haven status at present, Costco’s stock trades on some of the richest valuation multiples in history per Yahoo Finance data.
Yet, the buy button on Costco’s stock should continue to be slammed down, strategists say.
“Costco is what