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Fly News Breaks for November 25, 2019
FNKO
Nov 25, 2019 | 06:12 EDT
Piper Jaffray analyst Erinn Murphy lowered her price target for Funko to $24 from $30 after adjusting her estimates to account for higher expenses and Fortnite comps through Q1. However, after visiting the executive management team, Murphy continues to believe Funko remains "one of the most disruptive" consumer products companies. She's encouraged to see several initiatives to diversify the revenue streams and keeps an Overweight rating on the shares.
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