FIVE - Five Below: Throwing In The Towel For The Near Term (Rating Downgrade)
2024-07-17 01:56:52 ET
Summary
- Downgraded Five Below to hold rating due to uncertainty in near-term consumer spending and the negative impact of inflation.
- Recent performance reflects weak consumer spending.
- Valuation at a low level compared to history, but I am waiting on the sidelines until signs of consumer spending recovery are evident.