Five Below price target raised to $120 from $100 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Five Below (FIVE) to $120 from $100 and keeps an Equal Weight rating on the shares. It is “hard not to be more positive” on Five Below given the magnitude of its Q3 comp acceleration, says the analyst, who calls the comp rebound “surprising” and one that “speaks to execution improvements.” If this view is correct, the “momentum should be sustainable,” the analyst tells investors.