KeyBanc analyst Bradley Thomas raised the firm’s price target on Five Below to $188 from $172 and keeps an Overweight rating on the shares. The analyst notes the company reported Q3 EPS above expectations, due to better sales results. Thomas also points out that Q4 is off to a strong start, aligning with his Black Friday store checks, and updated Q4 guidance is above consensus. The outlook is particularly encouraging given elevated promotions across the toy industry, he adds. The analyst remains positive on the long-term story and is encouraged by the strong start to Q4.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FIVE:
- Five Below price target raised to $204 from $184 at JPMorgan
- Five Below price target raised to $205 from $165 at UBS
- Five Below (NASDAQ:FIVE) Stock Jumps on Upbeat Outlook
- Five Below raises FY22 EPS view to $4.55$4.71 from $4.26-$4.56, consensus $4.41
- Five Below, Inc. Announces Third Quarter Fiscal 2022 Financial Results