Despite Sandy-Related Drag, Jefferies Positive on Five Below (FIVE) Q3
Yesterday Five Below (NASDAQ: FIVE) reported Q3 earnings that topped estimates, 8.8 percent comps, and guidance that called for a 4 percent increase in sales.
Commenting on the results, Jefferies analyst Daniel Binder said "On a day when most other retailers reported disappointing November comp sales results, FIVE guided Q4 to the usual 4% increase. Admittedly we would normally call that conservative, but the upside was probably taken out by Sandy."
"Regardless of the near-term impact of the storms, we think this growth story is intact and the earnings power for next year is at least as good as we thought pre-storm and we are actually moving estimates up slightly for next year," added Binder.
Jefferies reiterated a Buy rating on Five Below (NASDAQ: FIVE) and raised its price target to $42.00 (from $40.00).
For an analyst ratings summary and ratings history on Five Below click here. For more ratings news on Five Below click here.
Shares of Five Below closed at $31.39 yesterday, with a 52 week range of $25.00-$40.00.
Commenting on the results, Jefferies analyst Daniel Binder said "On a day when most other retailers reported disappointing November comp sales results, FIVE guided Q4 to the usual 4% increase. Admittedly we would normally call that conservative, but the upside was probably taken out by Sandy."
"Regardless of the near-term impact of the storms, we think this growth story is intact and the earnings power for next year is at least as good as we thought pre-storm and we are actually moving estimates up slightly for next year," added Binder.
Jefferies reiterated a Buy rating on Five Below (NASDAQ: FIVE) and raised its price target to $42.00 (from $40.00).
For an analyst ratings summary and ratings history on Five Below click here. For more ratings news on Five Below click here.
Shares of Five Below closed at $31.39 yesterday, with a 52 week range of $25.00-$40.00.