Five Below (FIVE): Taking The Party Online - UBS
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UBS analyst, Michael Lasser, reiterated his Buy rating on shares of Five Below (NASDAQ: FIVE) along with the price target of $55. FIVE is set up to Outperform in 2Q as it laps some of the prior year disruptions. The analyst is modeling a 4% comp (vs consensus of 3.4%).
This year, FIVE moved a circular forward to before the July 4 holiday. This likely helped drive traffic & generate a better advertising return. Plus, FIVE should benefit from lapping the disruptions from its new DC. Also, this year it's increasing its summer TV test to low-20% penetration across the chain, up from the mid-teens last year. The analyst estimates this could add 30-50 bps of comp.
Shares of Five Below closed at $47.14 yesterday.
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