Fly News Breaks for February 7, 2020
Feb 7, 2020 | 05:03 EDT
Stifel analyst Drew Crum downgraded Funko to Hold from Buy with a price target of $10, down from $25. The analyst says the magnitude of the company's Q4 miss weakens his investment thesis, which assumed Funko's "broad diversity insulated it from this type of shortfall." Further, its preliminary guidance for 2020 implies decelerating growth, making it difficult to argue for a higher multiple, Crum tells investors in a research note.
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