Five Below price target raised to $224 from $217 at Truist

Truist raised the firm’s price target on Five Below to $224 from $217 and keeps a Buy rating on the shares. The company’s Q4 results were "strong" amid "improving" traffic, and its FY23 growth is "meaningfully accelerating" as pressures ease, the analyst tells investors in a research note. The firm added that given Five Below’s value proposition and "extremely strong" unit economics, it remains a buyer of the stock and would become "increasingly aggressive" on even modest pullbacks.