Will Five Below Stock Be This Week's Biggest Winner?
These aren't too many companies reporting earnings during this part of the calendar, but some retailers with fiscal years that conclude at the end of January are stepping up with their third-quarter financial updates this week. One of the more intriguing chains that will do so is Five Below (NASDAQ: FIVE).
Five Below has emerged as a "cheap chic" haven for teens by offering bargain-priced closeouts on trendy items. It has also proven to be one of the more resilient retail players in the new normal. Shares of the company hit another all-time high on Friday, and one Wall Street pro predicts they will head even higher.
Edward Kelly at Wells Fargo has boosted his price target on Five Below from $155 to what is now a Street-high $182. He was the third analyst to raise his price goal this month, but the timing here matters. Five Below reports its fiscal third-quarter results after Wednesday's market close, so Kelly wouldn't have made the move he did early Monday morning unless he felt the retailer was about to impress the market again.
Source Fool.com
