BUZZ-Discount retail chain Five Below up after Truist upgrades to 'buy'

Reuters12-08
BUZZ-Discount retail chain <a href="https://laohu8.com/S/FIVE">Five Below</a> up after Truist upgrades to 'buy'

** Shares of discount retailer Five Below FIVE.O rise 2.2% premarket at $176.95

** Truist Securities upgrades stock to "buy" from "hold"; raises PT to $216 from $179

** Brokerage notes Q3 as a "game changer" quarter for FIVE due to strong traffic and higher consumer spend, which "should make the sales growth far more sustainable than we previously anticipated"

** "We believe that both improved merchandising and marketing can yield sustainable benefits to consumer awareness and store traffic," says Truist analyst Scot Ciccarelli

** Morgan Stanley raises PT to $190 from $160; retains rating at "Equalweight"

** Says encouraged by FIVE's solid execution of value offerings, price simplification and customer experiences

** As of last close, stock up 65% YTD

(Reporting by Koyena Das)

((Koyena.das@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment