Truist upgraded Five Below (FIVE) to Buy from Hold with a price target of $216, up from $179. The company’s Q3 report is a “game changer,” the analyst tells investors in a research note. Truist now believes Five Below’s sales growth is “far more sustainable” than previously anticipated. With the upcoming tax refund season and management’s additional levers margins, the stock can “command a significantly higher multiple,” contends Truist.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FIVE:
- Five Below Inc Reports Strong Q3 Growth and Optimistic Outlook
- Five Below price target raised to $188 from $162 at Goldman Sachs
- Midday Fly By: Meta to slash metaverse spending, Salesforce posts Q3 beat
- Five Below price target raised to $179 from $168 at Truist
- Five Below price target raised to $195 from $170 at Telsey Advisory