Truist analyst Scot Ciccarelli lowered the firm’s price target on Five Below to $201 from $222 but keeps a Buy rating on the shares. The company’s Q2 comps were modestly below expectations, but the firm was encouraged by Five Below’s accelerating transactions and new customer growth, the analyst tells investors in a research note. Truist adds that it still expects the company to revert toward its historical algo this year and contends that this represents an attractive entry point into “one of the most compelling growth retailers”.
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