Five Below price target raised to $188 from $172 at KeyBanc

KeyBanc analyst Bradley Thomas raised the firm’s price target on Five Below to $188 from $172 and keeps an Overweight rating on the shares. The analyst notes the company reported Q3 EPS above expectations, due to better sales results. Thomas also points out that Q4 is off to a strong start, aligning with his Black Friday store checks, and updated Q4 guidance is above consensus. The outlook is particularly encouraging given elevated promotions across the toy industry, he adds. The analyst remains positive on the long-term story and is encouraged by the strong start to Q4.