Craig-Hallum has decided to maintain its Buy rating of Five Below (NASDAQ:FIVE) and lower its price target from $230.00 to $190.00.
Shares of Five Below are trading down 3.59% over the last 24 hours, at $130.51 per share.
A move to $190.00 would account for a 45.58% increase from the current share price.
About Five Below
Five Below is a value-oriented retailer that operated 1,190 stores in the United States as of the end of fiscal 2021. Catering to teen and preteen consumers, stores feature a wide variety of merchandise, the vast majority of which is priced below $6. The assortment focuses on discretionary items in several categories, particularly leisure (such as sporting goods, toys, and electronics; 48% of fiscal 2021 sales), fashion and home (for example, beauty products and accessories, home goods, and storage solutions; 30% of fiscal 2021 sales), and party and snack (including seasonal goods, candy, and beverages; 22% of fiscal 2021 sales). The chain had stores in 40 states as of the end of fiscal 2021.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.