Telsey Advisory analyst Joseph Feldman upgraded Five Below (FIVE) to Outperform from Market Perform with a price target of $170, up from $144. The company’s business inflected in the first half of 2025 and the momentum should continue into the second half, the analyst tells investors in a research note. The firm says Five Below’s business is being driven by consumers searching for value, gains from the Trump administration’s decision to close the de minimis exemption loophole, and a transformation focused on streamlining and enhancing its assortment and pricing structure.
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