Goldman Sachs Reiterates Neutral Rating, $37 PT on Five Below

In a report published Wednesday, Goldman Sachs Group reiterated its Neutral rating and $37.00 price target on Five Below

. Goldman Sachs noted, “FIVE raised its 4Q12 adjusted EPS guidance to $0.36-$0.38 from prior $0.35-$0.37, vs. GSe and consensus of $0.38. In addition, the company reiterated its 4Q comp guidance of 4% and raised its total revenue guidance to $169-$172mn from prior $167-$170mn. Concurrent with this business update, the company announced a proposed secondary public offering of 7mn shares, which will be sold entirely by existing shareholders.” Five Below closed on Tuesday at $31.83.