Citi analyst Paul Lejuez raised the firm’s price target on Five Below (FIVE) to $121 from $80 and keeps a Neutral rating on the shares. The company preannounced announced strong Q1 results with comps 6.7%, well ahead of 0%-2% guidance, the analyst tells investors in a research note. The firm says that with comparisons easing significantly in Q2, it is possible for Five Below to deliver double-digit comps in 2Q, driven by efforts to improve the assortment and simplify the pricing strategy. Citi expects the company’s fiscal 2025 guidance to be maintained despite tariffs.
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