UPDATE: Evercore ISI Downgrades Five Below (FIVE) to In Line
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Evercore ISI analyst Michael Montani downgraded Five Below (NASDAQ: FIVE) from Outperform to In Line, PT $215.00.
The analyst comments "We are downgrading FIVE to In Line with the risk reward balanced at 38x, or nearly 2x the S&P on our CY22 EPS. FIVE has enjoyed a recent run of outperformance, with the stock up ~70% from pre-COVID levels vs. the S&P up 25%. 4Q results, and the 1Q21 outlook show fundamental strength, yet with our estimates in line with the Street for this year’s earnings we believe much of the good news is reflected."
Shares of Five Below closed at $195.59 yesterday.
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