好市多展现韧性，但股价在春季之前可能停滞

投资观察2025-12-12

0749 ET - William Blair的分析师在一份研究报告中表示，好市多的商业模式依然强韧，但“我们预计股票将在第二财季保持区间波动，因为比较基数依然困难，公司还需吸收高企的薪资成本，”Phillip Blee和Olivia Witte写道。他们指出，股票在春季可能会有更清晰的加速路径，那时好市多将克服最后的工资相关阻力，并面临较为轻松的比较基数。这应该有助于该股在年末前为上涨做好布局，尽管近期的催化剂仍然有限。(connor.hart@wsj.com)

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