Shares of discount retailer Five Below Inc. (FIVE) - Get Report jumped Monday, Dec. 10, after the company received a ratings upgrade from Loop Capital analyst Anthony Chukumba.

Five Below shares rose 2.69%, or $2.57, to $98.15 after Chukumba raised his rating on the stock to "buy" from "hold" and lifted his one-year price target to $120 from $110. 

Five Below is more "economic-downturn resistant" than most retailers, and has a long square-footage-growth runway ahead of it, Chukumba said in a research note.

The rebound stood in stark contrast to last week, after decent third-quarter earnings but mixed guidance for the fourth quarter prompted investors to push the company's shares down more than 6% on Friday.

Five below posted third-quarter earnings of 22 cents a share on sales of $312.8 million, though reduced its fourth-quarter earnings guidance to between $1.53 and $1.57 - below consensus views of $1.57 a share.

Five Below sells toys, tech accessories and room decor for $5 or less. Fake slime, sequined pillows and headphones targeted towards children, adolescents and teens are among its primary offerings.