Five Below price target raised to $170 from $155 at Evercore ISI

Evercore ISI analyst Michael Montani raised the firm’s price target on Five Below to $170 from $155 and keeps an In Line rating on the shares. Five’s "upbeat holiday outlook" and early 2023 commentary suggest it can deliver "despite the broader discretionary malaise," said Montani. He is raising his calendar 2023 EPS estimate by about 6% to reflect the Q3 beat, stronger comp trend into Q4 and cost controls.