Five Below price target lowered to $215 from $225 at Mizuho

Mizuho analyst David Bellinger lowered the firm’s price target on Five Below to $215 from $225 and keeps a Buy rating on the shares. The analyst says inventory charges outweighed the company’s’ Q4 sales strength, and ongoing shrink/theft issues “sucked the juice out” of the fiscal 2024 guidance. However, any near-term dislocation in the shares “screens as an opportune entry point,” the analyst tells investors in a research note.