JPMorgan upgraded Five Below (FIVE) to Overweight from Neutral with a price target of $186, up from $154, ahead of the Q3 report. The firm sees the company’s multi-year earnings growth hitting at least low double-digits, supported by high-single-digit unit growth expansion and low-single-digit comps. Five Below’s recent initiatives to improve product, marketing and store experience should support consist net same-store-sales growth, contends JPMorgan.
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