RBC Capital analyst Scot Ciccarelli raised his price target on Five Below to $130 and kept his Outperform rating after its "solid" Q2 results, saying that while its comp growth of 1.4% was below his expected 2.8%, sales were not greatly impacted by the shortfall because of the company's new store growth. The analyst further cites the management maintaining its FY19 guidance in spite of the "significant" concerns among investors about the potential negative impact of U.S.-China trade tensions, saying that the guidance already reflects all of the previously announced tariffs. Ciccarelli states that the company's pricing tests have been "successful", and the unit elasticity has been "in line or better", adding that the expected gross margin shortfall in Q3 will be made up in Q4.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here