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Fly News Breaks for January 14, 2020
Jan 14, 2020 | 08:19 EDT
Loop Capital analyst Anthony Chukumba lowers his price target on Five Below to $130 from $145 but keeps his Buy rating after the company reported its Holiday Period sales comps yesterday. The analyst notes that the disappointing figures were mainly driven by the six fewer shopping days between Thanksgiving and Christmas, and he is not prepared to "throw the baby out with the bathwater." Chukumba contends that the subsequent sell-off represents a buying opportunity for Five Below shares.
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