Five Below (FIVE) PT Raised to $128 at RBC Capital Following 2Q

RBC Capital analyst Scot Ciccarelli raised the price target on Five Below (NASDAQ: FIVE) to $128.00 (from $114.00) while maintaining a Outperform rating following the company's 2Q. The company posted a 2.7% comp gain vs. last year’s +9.3% (spinner driven) result. The 2-year stack accelerated to +12.0% from 5.8% and the 3-year to 15.1% from 10.7%. EPS was $0.45.

Ciccarelli raised FY18 EPS estimates to $2.55 from $2.48 on modestly higher comp growth, strong new store productivity and better-than-expected margin performance. 2019 estimate goes to $3.03 from $2.93 and RBC Capital introduced 2020E EPS at $3.65.

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