Mizuho upgrades Five Below to Outperform, cuts target to $220
Mizuho analyst David Bellinger upgraded Five Below to Outperform from Neutral, citing a positive outlook despite lowering the price target to $220 from $225. The stock trades on NASDAQ under the symbol FIVE.

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Mizuho analyst David Bellinger has upgraded Five Below to Outperform from Neutral while lowering the price target to $220 from $225. The revision reflects a revised valuation outlook for the retailer, which trades on the NASDAQ under the ticker symbol FIVE. The upgrade to Outperform suggests the firm now expects the stock to outperform the broader market averages, despite the reduction in the price target.
Rating and Price Target Details
The following table outlines the revised rating and price target for Five Below:
| Metric | Value |
|---|---|
| Rating | Outperform |
| Previous Rating | Neutral |
| Previous Price Target | $225 |
| New Price Target | $220 |
| Exchange | NASDAQ |
| Ticker Symbol | FIVE |
What specific factors drove Mizuho's revised valuation outlook despite the upgrade?
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