Citi lowered the firm’s price target on Five Below to $85 from $92 and keeps a Neutral rating on the shares. The analyst expects an in-line Q2 earnings report on August 28 after the company lowered guidance in mid-July in conjunction with the departure of CEO Joel Anderson. Understanding how earnings could shake out in fiscal 2025 will be top of mind for investors, the analyst tells investors in a research note. With visibility low into a comp inflection and risk of lowered store growth targets, Citi believes Five Below’s risk/reward is balanced into the print.
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