Morgan Stanley raised the firm’s price target on Five Below (FIVE) to $120 from $100 and keeps an Equal Weight rating on the shares. It is “hard not to be more positive” on Five Below given the magnitude of its Q3 comp acceleration, says the analyst, who calls the comp rebound “surprising” and one that “speaks to execution improvements.” If this view is correct, the “momentum should be sustainable,” the analyst tells investors.
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Read More on FIVE:
- Five Below price target raised to $100 from $90 at Barclays
- Five Below Inc. Reports Q3 Financial Results
- Closing Bell Movers: Five Below up 13%, PVH slips 6% on earnings
- Five Below up 11% at $116.72 after Q3 earnings beat, FY24 guidance raise
- Five Below Appoints Winnie Park as New CEO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
