Truist analyst Scot Ciccarelli raised the firm’s price target on Five Below to $196 from $161 and keeps a Buy rating on the shares. The company reported a "strong" Q3 earnings beat as ticket and transaction activity improved throughout the quarter, the analyst tells investors in a research note. While the stock has already had a solid move off of its mid-year lows, further multiple expansion is possible given the company’s "rarified growth rate and return profile", Ciccarelli adds.
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Published first on TheFly
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