Five Below (FIVE): Buy On Weakness - Jefferies
- Wall St. opens higher as M&A activity boosts confidence
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Pre-Open Stock Movers 10/24: (BEAV) (JPEP) (HLT) Higher; (BAS) (INO) (ADRO) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
- BMO Capital Raises Price Target on ManpowerGroup (MAN) Following 3Q Surprise
- UPDATE: Seaport Global Securities Starts Union Pacific (UNP) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!