Guggenheim analyst John Heinbockel said his recent meetings with management at Five Below addressed the path to the company's "strong" implied Q4 guidance and opportunities to grow the business over the long-term that include unit expansion, merchandising evolution, and moving into new businesses like in-store gaming. Even though Five Below's second half is "unusually backend-loaded even for a historically Christmas-centric retailer," Heinbockel said he is getting comfortable with the Q4 outlook, given pricing, "Frozen 2" products and the margin inflection of the Atlanta distribution center. Following the meetings, he raised his price target for Five Below shares to $140 from $135 and keeps a Buy rating on the stock.
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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