Citi raised the firm’s price target on Five Below (FIVE) to $96 from $85 and keeps a Neutral rating on the shares. The firm anticipates a Q3 earnings beat driven by stronger comps of negative 3% versus the consensus estimate of down 5.4%. Five Below’s trends improved, driven by a strong merchandise assortment and less volatile macro backdrop, the analyst tells investors in a research note. Citi sees a balanced risk/reward into the earnings report.
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