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Fly News Breaks for July 1, 2019
FND, FIVE
Jul 1, 2019 | 08:06 EDT
Morgan Stanley analyst Simeon Gutman resumed coverage of Five Below (FIVE) with an Overweight rating and $135 price target, calling it as a "best-in-class discount retailer" with about 20% annual unit growth. The analyst, who said "high quality growth stories are increasingly scarce across retail," called out Five Below as one of only two "pure brick and mortar" retailers growing top line and EBITDA over 20% with no leverage, identifying Floor & Decor (FND) as the other.