Five Below price target raised to $238 from $234 at Deutsche Bank

Deutsche Bank analyst Krisztina Katai raised the firm’s price target on Five Below to $238 from $234 and keeps a Buy rating on the shares after it reported its Q4 results. The company’s Q1 and 2023 same-store sales outlook and reiteration of its plans to open 200 new stores provide "plenty for the bulls," the analyst tells investors. While Five Below’s initial 2023 guidance has the midpoint of EPS coming in slightly below market expectations, Deutsche Bank appreciates management being more cautious to reflect the "highly uncertain consumer backdrop," the firm says.