JPMorgan analyst Tami Zakaria views the 12% pullback in shares of Party City over the past three weeks as a "compelling buying opportunity." After speaking with management, the analyst is confident that concerns around tariffs are overblown and that the pullback ahead of the Fed rate hike could be partly factor-driven given the company's above-average leverage. However, she notes 50% of Party City's debt portfolio is now fixed-rate and the company is on track to deleverage the balance sheet to 4.2 times by the end of 2019. Zakaria raised her price target for the shares to $19 from $17 and keeps an Overweight rating on the name.