Oppenheimer analyst Brian Nagel raised the firm’s price target on Five Below to $235 from $165 and keeps an Outperform rating on the shares. The firm notes that for growth-oriented investors navigating an uncertain consumer backdrop, Five Below offers a number of key positives, namely still compelling new unit expansion prospects; internal initiatives and market share opportunities, with potential to fuel incremental sales and profits growth; underlying economic resiliency; healthy balance sheet and cash flow generation; and seemingly conservative Street forecasts. Five Below now ranks among Oppenheimer’s favorite mid-cap names within its Consumer Growth and E-Commerce coverage.
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