Comments From JAKKS Pacific (JAKK) Reinforce Potential Upside; Piper Jaffray Reiterates Overweight

Piper Jaffray maintained an Overweight rating and $11.00 price target on JAKKS Pacific (NASDAQ: JAKK) as shares remain volatile post 3Q earnings report. Management's comments surrounding holiday sales performance for the toy category and for Jakks' product collection imply strong sales trends.

Analyst Stephanie Wissink commented, "While shares have remained volatile post the Q3 reporting cycle, we continue to believe JAKK is well positioned to deliver potential upside to the guided 2015 revenue and earnings range. Balancing strongly positive comments, management maintains a cautious tone with respect to a promotional retail landscape. That said, should sales during the month of December simply hit the company's internal plan, we see upside to the $730-$740M guided sales range. Key drivers are: Star Wars, Disney's Princesses (incl. Frozen), Max Tow and Tsum Tsum. Our $11 PT is unchanged and is predicated on a peer group discounted multiple of 5x FY17E EBITDA of $68.6M."

For an analyst ratings summary and ratings history on JAKKS Pacific click here. For more ratings news on JAKKS Pacific click here.

Shares of JAKKS Pacific closed at $8.32 yesterday.

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