Needham & Company Upgrades JAKKS Pacific (JAKK) to Buy
- Market Wrap: Durable Goods Order Outpace in Oct.; GoPro's Drone Ambitions; New Home Sales Fall Flat
- Deere & Co. (DE) Tops Q4 EPS by 26c
- After-Hours Stocks Movers 11/26: (CJES) (GPRO) Higher; (KITE) (AVNR) Lower (more...)
- U.S. Durable Goods Orders Show Surprise 0.4% Gain in Oct.; Inventories Rise to Highest-Ever Level
- GoPro (GPRO) Aims to Launch Consumer Drones Late Next Year
Needham & Company upgraded JAKKS Pacific (NASDAQ: JAKK) from Hold to Buy with a price target of $10.00.
Analyst Sean McGowan comments, "We are raising our sales and EPS estimates for JAKK and raising our rating from Hold to Buy, based on our belief that the company's sales momentum is accelerating, leading to higher profit margins. The company's recently completed offering of $100mm in convertible notes does result in significant dilution, but it also strengthens JAKK's financial position. After accounting for our higher operating forecasts, net of the dilution, our EPS estimates are modestly higher for 2014, 2015 and 2016. We believe the stock could trade up to $10 over the next year, based on fairly conservatives valuation assumptions."
The firm raised FY 2014 EPS from $0.60 to $0.65 and FY 2015 EPS from $0.65 to $0.70.
Shares of JAKKS Pacific closed at $7.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nimble Storage (NMBL) PT Raised to $37 at Needham & Company Amid Strong Q3
- Ctrip.com (CTRP) PT Chopped to $58 at Oppenheimer; 'Outperform' Maintained
- Infoblox (BLOX) Bullish View Reiterated at Needham & Company Amid 'Beat and Raise'
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Upgrades
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!