Piper Jaffray 'Impressed' by JAKKS Pacific (JAKK) Product Showcase

Piper Jaffray analyst Stephanie Wissink reiterated an Overweight rating and $11 price target on JAKKS Pacific (NASDAQ: JAKK) saying the company's product showcase was impressive. Sees solid profitable momentum continuing.

Wissink commented, "Following a hosted tour of Jakks’ product showroom in Santa Monica and meeting with the executive management team, we are biased toward upside to our model for the 2H of the year. The tour emphasized the breadth of the 2016 product mix and the major media tie-ins that likely support expanded shelf space and consumer uptake. Standouts for 2016 included: Disney Princess adjacencies, 3 new fashion doll lines, 2 new Disney girls brands (Moana, Elena), 3D It, Tsum-Tsum, Nintendo, preschool and remote control. Our sense is that bookings in aggregate imply opportunities to lap the Frozen comparison in Q4, at least to a degree that protects profit momentum in the business. This coupled with an improved operating discipline and cost leverage suggest rates of EBITDA growth that can consistently exceed sales growth. Our model is unchanged but we are biased positively."

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 $8.55 yesterday.

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