Five Below price target raised to $164 from $152 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin raised the firm’s price target on Five Below (FIVE) to $164 from $152 and keeps a Buy rating on the shares ahead of the Q2 earnings report on August 27. Quarterly checks on same-store sales have remained consistently strong over the past few months driven by a combination of traffic and average ticket, the analyst tells investors in a research note. The firm sees multiple catalysts ahead, including lower shrink and China tariffs.