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Fly News Breaks for January 9, 2019
FIVE
Jan 9, 2019 | 05:07 EDT
Loop Capital analyst Anthony Chukumba downgraded Five Below to Hold with an unchanged price target of $120. The analyst says the downgrade is based on valuation, as opposed to a more bearish view of the company's fundamentals. Five Below remains one of the most compelling fundamental stories in the specialty hardlines retailing sector, Chukumba tells investors in a research note. However, with the stock trading at 38.7 times his fiscal 2019 earnings estimate, the analyst believes current valuation levels are in line with his bullish outlook.
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