Truist raised the firm’s price target on Five Below (FIVE) to $81 from $65 and keeps a Hold rating on the shares. The company’s Q1 guidance was even better than the Truist Card readings, posting a comp gain of 6.7% thanks to strong Easter sales and well above the initial guide for 0%-2%, the analyst tells investors in a research note. Given this momentum and an even easier comparison in Q2, the Street’s expectations will likely also rise sharply, Truist added.
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