Buzz-Street View: Brokerages bullish on Five Below after strong Q2 results
FIVE•Brokerages say results reinforce bullish conviction
- Jefferies (
buy, PT: $420) says growth is broad and consistent, margins and EPS jumped well above expectations and the company keeps opening productive new stores while returning cash to shareholders, all signaling more room to grow. - J.P. Morgan (
overweight, PT: $368) says comps nearly doubled the Street's estimate with strong traffic, and profits flow through efficiently as sales grow. Forecast for both Q3 and full year came in well above Wall Street's numbers, showing management sees the momentum continuing.
Five Below rises after strong Q2 results and raised forecast
Shares of discount retailer Five Below FIVE.O rise nearly 5% to more than $254 premarket.
The company beat Q2 estimates and raised its annual forecast on Wednesday, betting on resilient demand from value-focused shoppers.
The median PT of 27 brokerages covering the stock is $290, according to LSEG data.
