Loop Capital raised the firm’s price target on Five Below (FIVE) to $90 from $85 and keeps a Hold rating on the shares. The firm cites the company’s pre-announcement of much better than expected Q1 results, indicating that the new CEO Winnie Park’s strategic vision – sharpening the company’s focus on its core “kid” customers, tightening the merchandise assortment, including increasing the focus on product newness and key items, simplifying product pricing, and increasing brand awareness – is off to a strong start, the analyst tells investors in a research note.
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