Craig-Hallum raised the firm’s price target on Five Below (FIVE) to $150 from $125 and keeps a Buy rating on the shares. The firm says Five Below delivered a “stunning” Q3 beat that saw same-store sales return to positive territory as the company focused on its roots to deliver extreme product value with a fun store experience targeting the teen and pre-teen demographic. Craig-Hallum expects the update to ease investor concerns around tariffs and shrink mitigation efforts as enthusiasm builds for a return to a more normalized growth algorithm in FY25. The company also announced Winnie Park as CEO, which it views as an “outstanding choice” given her prior experience at Forever 21 with expertise in digital marketing and global sourcing as core competencies that will help Five Below.
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