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Fly News Breaks for February 10, 2020
Feb 10, 2020 | 07:59 EDT
BMO Capital analyst Gerrick Johnson lowered his price target on Funko to $8 and kept his Market Perform rating after its negative Q4 pre-announcement last week, noting that while "many" were anticipating bad news, it came earlier than most were expecting. With the stock down 44% since the announcement, the analyst adds that "there isn't much to do" and believes that the company's business will be choppy. Johnson further notes that "short covering", NY Toy Fair, and "hopes for new lines and better retail conditions" could still support Funko shares.
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