UPDATE: Goldman Sachs Initiates Five Below at Neutral with $35 PT
Goldman Sachs initiated its coverage on Five Below (NASDAQ: FIVE) with a Neutral rating and a price target of $35.
Goldman Sachs noted, "FIVE's differentiated business model should power compelling runway as it grows from 215 stores to 2000 stores nationally. We expect 30%-35% annual EPS growth driven by 25% unit growth, mid-single-digit comp growth and EBIT margin expansion of 100-200 bp over next three years. This opportunity has not gone unnoticed by the market as the current valuation of 50X FY13E EPS suggests robust expectations."
Five Below closed at $32.71 on Friday.
Latest Ratings for FIVE
|Sep 2016||Barclays||Initiates Coverage on||Equal-weight|
|Sep 2016||Goldman Sachs||Assumes||Neutral|
|Aug 2016||BTIG Research||Initiates Coverage on||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.