Five Below (FIVE) PT Lowered to $110 at RBC Capital

RBC Capital analyst Scot Ciccarelli lowered the price target on Five Below (NASDAQ: FIVE) to $110.00 (from $144.00) while maintaining a Outperform rating.

The analyst commented, "Holiday comps were well below expectations at (2.6%) vs. our ~+2.5%E. Five pointed to the shortened holiday season, but it’s clear to us that daily sales were highly disappointing (Dec comps likely down MSD), adding risk to 2020 comps. Nevertheless, margins held up/annual EPS should grow 15%+ despite the comp miss. Still like the stock due to store growth/economics but surprised by the magnitude of the comp shortfall."

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