Five Below (FIVE): Buy On Weakness - Jefferies
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Jefferies analyst, Daniel Binder, reiterated his Buy rating on shares of Five Below (NASDAQ: FIVE) after Q2 sales and EPS beat on strong new store productivity and favorable SG&A leverage, but the Q3 comp guide was in line with plan and below expectations.
The analyst thinks shares may be weak on the 1-2% comp guide in Q3 – a sequential deceleration. Management noted this guidance is in line with its beginning of year plan and it does show consistency with recent performance on a two-year comp basis. FY sales and EPS was raised as outperformance was passed through to guidance.
The analyst stated he would would buy on weakness.
along with his price target of $55.
Shares of Five Below closed at $44.56 yesterday.
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