Five Below price target lowered to $102 from $117 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Five Below (FIVE) to $102 from $117 but keeps a Buy rating on the shares after its Q4 results and guidance. The company faces large margin headwinds from tariffs in FY25, but will try to mitigate them through pricing and vendor strategies, the analyst tells investors in a research note, also noting that the consumer seems healthy with no change in spending behavior. Goldman adds however that its price target cut reflects a decrease in relative P/E multiples.