Loop Capital analyst Anthony Chukumba raised the firm’s price target on Five Below to $200 from $190 but keeps a Hold rating on the shares. The firm’s investor call with the company’s management was "incrementally positive", particularly given the ongoing rollout of Five Beyond, the continued robust new store economics, and more favorable urban commercial real estate markets, the analyst tells investors in a research note. Loop added that Five Below remains one of the firm’s "favorite fundamental organic square footage growth stories", and it "eagerly awaits" a more favorable entry point to become more constructive.
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Published first on TheFly
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