System1 price target lowered to $2 from $3 at Evercore ISI

Evercore ISI lowered the firm’s price target on System1 to $2 from $3 and keeps an In Line rating on the shares following what the firm describes as “a Beat and Lower Q4.” While the company beat expectations in Q4, a weak Q1 outlook, coupled with lack of forward visibility in the face of continued volatility in performance marketing, remain challenges, the analyst tells investors in a post-earnings note.