UPDATE: Deutsche Bank Reiterates on Five Below as Investors Can Take Advantage of Share Weakness
In a report published Friday, Deutsche Bank analyst Paul Trussell reiterated a Buy rating on Five Below (NASDAQ: FIVE), but lowered the price target from $59.00 to $58.00.
In the report, Deutsche Bank noted, “We recommend investors take advantage of weakness in shares of FIVE as (1) 3Q SSS and margin performance were much better than expected, (2) the two concerns in the print (lower than expected NSP & 4Q comp guidance) were properly addressed on the call, and (3) the company remains uniquely positioned with all of the drivers of 30%-40% long-term growth remaining intact (MSD-HSD SSS, 20%-25% door growth, leveraging expenses on SSS above 4.0%, and strong FCF & returns).”
Five Below closed on Thursday at $50.87.
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