Roth MKM analyst David Bellinger upgraded Five Below to Buy from Neutral with a price target of $240, up from $180. Over the last several months, the company’s "abrupt shift to value-oriented merchandise" has taken shape more quickly than anticipated, the analyst tells investors in a research note. The firm says Five Below’s comps have improved sequentially and profitability improvements are coming. As such, Roth MKM expects the shares to outperform over the balance of the year.
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Published first on TheFly
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Read More on FIVE:
- Gordon Haskett upgrades Five Below to Buy on growth confidence
- Five Below upgraded to Buy from Accumulate at Gordon Haskett
- Five Below initiated with an Overweight at Barclays
- Five Below price target raised to $235 from $165 at Oppenheimer
- Five Below price target raised to $210 from $200 at Guggenheim