Pandemic-proof bet?

The coronavirus pandemic has ravaged much of the retail landscape — but big chains deemed “essential” have largely been spared.

Costco Wholesale is among those that have remained open, benefiting from panic buying in the early weeks of the outbreak and enjoying consistent demand since.

Apart from a modest drop in April, the warehouse club operator’s sales have risen sharply every month this year. Last month Costco’s sales climbed 11.1% from a year earlier to $16.18 billion.

The news helped push

Costco’s shares Thursday to an all-time high.

Some analysts expect the stock could still move higher from here.

CFRA Research equity analyst Garrett Nelson recently raised his 12-month price target on Costco to $375 a share from $360. He also lifted his earnings per share estimates for

Costco’s current fiscal year and the next.

“(Costco’s performance) indicates a resurgence in consumer buying and restocking in June that has positive implications for (Costco) and other supercenter retailers,” Nelson wrote.