BofA lifts Costco target after April sales jump

Costco Wholesale Corporation reported robust sales for the four-week retail month of April 2026, covering the period from April 6 to May 3. Total sales rose 13% to $23.92 billion, underscoring solid demand across the warehouse retailer’s operations during the month.

The company’s comparable sales, a key retail metric that tracks performance at existing locations, increased 11.6% for April. This figure indicates broad-based growth from Costco’s established stores rather than relying solely on new openings.

Costco’s business continued to attract customers, with increased traffic at its gas stations cited as an important driver. The additional visits for fuel have been contributing to in-store purchases, supporting the retailer’s overall sales momentum.

Following the release of the April sales figures, Costco’s stock was trading at $1,000 per share. The move in the share price reflected investor response to the stronger-than-expected sales performance for the month.

The combination of double-digit total and comparable sales growth and continued customer traffic highlighted investor focus on Costco’s operating trends. The April results added to the market’s assessment of the company’s recent performance and prospects.

In response to Costco’s April sales surprise, Bank of America (BAC) revisited its outlook on the stock. The firm set a price target of $1,100 for Costco shares, signaling its updated expectations for the retailer’s valuation after the latest data.

The new target followed the company’s strong April showing, which included the 13% rise in total sales and 11.6% comparable sales growth. Bank of America’s revised view was tied directly to these reported operating results.

The updated target also came after Costco shares reached $1,000, providing a reference point for how the firm’s new expectation compared with the stock’s recent trading level as investors absorbed the sales report.

Costco’s April performance highlighted the importance of customer traffic patterns, including those driven by its fuel operations. Increased visits to gas stations have supported incremental in-warehouse spending, reinforcing the link between fuel sales and broader merchandise results.

The retailer’s ability to generate both higher total sales and strong comparable sales growth in the same period underscored its current operational momentum. These metrics formed the basis for both investor reaction in the stock price and Bank of America’s updated price target.