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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