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Fly News Breaks for November 4, 2019
FNKO
Nov 4, 2019 | 08:52 EDT
Stifel analyst Drew Crum lowered his price target on Funko shares to $25 from $30 on the view that the market is more likely to pay a lower multiple as growth slows, though he keeps a Buy rating on the stock following the company's slightly better than expected Q3 report. He thinks the post-earnings selloff in the stock "seemed to be centered on anticipation for slowing growth" and the company's quarterly update "didn't seem to allay those concerns," Crum tells investors. He also has the sense that frustration around the timing of the secondary offering "has lingered," Crum added.
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