Five Below Analyst Warns Of ‘Eroding Value’ As ‘Quality Did Not Always Keep Pace’
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Five Below Inc (NASDAQ:FIVE) and other discount retailers were benefited by the Federal Reserve’s interest rate cut in October.
The company is currently undergoing a “major strategic transition across its business model” as well as leadership changes, according to Telsey Advisory Group.
Analyst Joseph Feldman downgraded Five Below’s rating from Outperform to Sector Perform and reduced the price target from $102 to $95.
The Five Below Thesis: The search for a permanent CEO is on, with Ken Bull having been named Interim CEO after the resignation of Joel Anderson, while SVP of General Merchandise …
Full story available on Benzinga.com
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