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Fly News Breaks for February 6, 2020
FNKO
Feb 6, 2020 | 07:49 EDT
DA Davidson analyst Linda Bolton Weiser downgraded Funko to Neutral from Buy with a price target of $11, down from $35. The analyst cites the company's soft pre-announced Q4 revenue due to "below-plan" sales of Frozen 2 and Star Wars figures, and also warns that the management's infrastructure investments in 2020 could temper gross margins. Weiser adds that investors may only be willing to pay about 10-times expected earnings as she lowers her FY21 EPS outlook to $1.07 from $1.85.
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