there is momentum left in this name and given that the valuation is not excessive now, there is little reason to sell it now

Unless I am comprehending incorrectly; you don’t recommend chasing (buying) the stock at $90 but recommend sitting tight at if you are already at holder given the momentum. Given the difference between holding and buying is transaction costs (generally low basis points). Meaning that if a stock is worth holding then it is worth buying – unless frictional costs are overly onerous.

I understand that this may be a hold over from the sell-side, where “hold” recommendations exist as a way to hedge bets, game ranking and not upset investors previously told to buy, but feels unnecessary in the current format/context.