JPMorgan downgrades toymaker Funko on disappointing earnings, uncertain future

There's uncertainty ahead for toymaker Funko , and investors should take note, according to JPMorgan. The firm downgraded shares of Funko to neutral from overweight and lowered its price target to $16 from $32. That implies downside of nearly 18% for the stock. The company on Thursday reported earnings that fell short of Wall Street's expectations and announced a less-than-rosy forward guidance.

"While the latter was somewhat expected given the tougher macro backdrop, well-known inventory challenges at retail, and lateral reports, the EPS cut was contrary to our preview and far worse than bearish expectations." Tough to endorse The company said that its direct sales are still strong and that its project miss in the fourth quarter is because retail de-stocking.

Their sales have boomed since Covid. Am I missing something?

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

DC TV's Future On The CW Uncertain After Network's AcquisitionFollowing Nexstar acquiring The CW, the network's new boss is uncertain about the future of DC TV and the Arrowverse, which has been facing several changes this year already. Cw have been destroying dc characters lately Really that's both CW & HBO Max with cancelled TV shows and movies TheFlashPodcast If only they had some sort of DC streaming service
Fonte: screenrant - 🏆 7. / 94 Consulte Mais informação »