Truist raised the firm’s price target on Five Below (FIVE) to $118 from $88 but keeps a Hold rating on the shares. Following the “implosion” seen in the company’s Q2 results, its Q3 was improved, with comps registering a slight increase amid a better consumer environment, more seasonal “reasons” to shop, as well as improved store execution and merchandising, the analyst tells investors in a research note. Truist adds however that while it “wants to be bullish” given Five Below’s store growth, the company’s comps are still flattish and expected to be down in Q4, with margins that will be pressured in 2025 in the absence of above-3% comps and the stock valuation that has moved a lot.
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Read More on FIVE:
- Five Below price target raised to $120 from $90 at Loop Capital
- Five Below price target raised to $110 from $83 at JPMorgan
- Five Below price target raised to $120 from $100 at Morgan Stanley
- Five Below price target raised to $140 from $125 at Guggenheim
- Five Below price target raised to $100 from $90 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
