Five Below price target lowered to $204 from $214 at Truist

Truist lowered the firm’s price target on Five Below to $204 from $214 but keeps a Buy rating on the shares. The company’s Q4 earnings missed estimates as its shrink again exceeded expectations, but its conservative guidance outlook assumes the worst of both worlds – no improvement in shrink rate and the layering-in of additional costs to reduce the shrink, the analyst tells investors in a research note. Truist adds that investors should “take advantage of the pullback” and buy the stock “aggressively”.