Jefferies analyst Stephanie Wissink called reports of a trade agreement in principle with China that will remove and/or delay tariffs on toys a "holiday gift" and "reprieve" for toy companies including Hasbro (HAS), Mattel (MAT), Funko (FNKO), Build-A-Bear (BBW) and Jakks Pacific (JAKK). While the second half of 2019 order flow damage is done and she expects some of the operational response to tariffs to remain, this news means the estimated 200-250 basis point drag to margins from the tariff cost burden may be avoided, Wissink tells investors. In terms of the holiday season, Wissink said her season to-date checks continue to reinforce her category expectation for low-single digit growth and she is are relying on "a final weekend thrust" to push holiday season toy sales into the low-to-mid single digit range. She has Buy ratings on Hasbro, Funko and Build-A-Bear and Hold ratings on Mattel and Jakks.