As previously reported, Wells Fargo analyst Edward Kelly downgraded Five Below to Equal Weight from Overweight with a $215 price target. The firm continues to like the fundamental story of Five Below, but struggles to see material upside in the stock from current levels. Wells’ concerns include unique exposure to the shortened holiday selling period in 2024, questions around the size of the potential margin expansion opportunity in 2024, overly aggressive consensus expectations for 2024/2025, and balanced risk/reward.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FIVE:
- COST, WMT, FIVE: Which Strong-Buy-Rated Retail Stock is Best?
- Analysts and Technical Indicators Agree: These 3 Stocks Are “Strong Buys” – 12/21/2023
- Five Below, Inc. Announces Participation in the 2024 ICR Conference
- Top consumer names to own in 2024, according to Telsey Advisory
- eCom Wars: PDD’s (NASDAQ:PDD) Temu Sues Shein in the U.S.
Questions or Comments about the article? Write to editor@tipranks.com