Five Below price target raised to $130 from $90 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Five Below (FIVE) to $130 from $90 and keeps a Hold rating on the shares. The firm was “very impressed” by Five Below’s Q1 results, particularly given the uncertain macroeconomic environment, and believes that the company’s performance provides evidence that the management’s new strategic vision – including investments/enhancements in merchandising, marketing, in-stock levels, and store labor hours – are already bearing significant fruit, the analyst tells investors in a research note.