Fly News Breaks for October 16, 2019
Oct 16, 2019 | 09:35 EDT
Loop Capital analyst Anthony Chukumba keeps his Buy rating and $145 price target on Five Below after visiting the company's stores to analyze its product assortment. The analyst notes that the focus by Five Below to leverage the release of Frozen 2 with merchandise is "encouraging", as he expects it to be "one of the highest grossing films of the year". Chukumba believes that the film-related merchandise will give Five Below a "multi-quarter" comparable sales growth and an earnings boost.
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