Five Below price target lowered to $95 from $101 at Evercore ISI

Evercore ISI lowered the firm’s price target on Five Below to $95 from $101 and keeps an In Line rating on the shares. Q2 results, including a 5.7% comp decline and profit down 37%, show the impact of lingering macro challenges and execution miss-steps, the analyst tells investors. While the firm believes Five’s issues are fixable, the turnaround is likely to be choppy and the firm reduced its calendar year 2024 and 2025 EPS estimates 2% to $4.60 and $5.00, respectively.