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Fly News Breaks for January 14, 2020
Jan 14, 2020 | 09:33 EDT
Craig-Hallum analyst Jeremy Hamblin lowered his price target for Five Below to $159 from $168 after the company delivered its "most disappointing press release as a public company." The analyst notes that Five Below lowered Q4 same-store sales, but highlights that despite the swing in sales expectations, EPS guidance was only lowered about 6c at the midpoint to a new range of $1.93-$1.96 or just below the bottom of prior $1.97-$2.05. Ultimately, it appears management underestimated the impact of six fewer selling days between Thanksgiving and Christmas as trends were in line with guidance both before and after the holiday period, he adds. The analyst has a Buy rating on the shares.
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