Five Below price target raised to $120 from $90 at Loop Capital

Loop Capital raised the firm’s price target on Five Below (FIVE) to $120 from $90 and keeps a Hold rating on the shares. The company’s Q3 results were well ahead of expectations, including a significant sequential acceleration in comparable sales growth, operating margin expansion, and a sizable earnings beat to the consensus forecast, the analyst tells investors in a research note. Loop adds that it was “impressed” by Five Below’s ability to begin to “turn the ship around” so quickly, which could indicate the company’s recent challenges were a mere “speed bump” rather than a “larger existential threat”.