Needham & Company Upgrades JAKKS Pacific (JAKK) to Buy
- Market Wrap: CPI Outpaces in Sept.; Regulus Ramps on RG-101 Data; AT&T Trims Outlook
- AT&T Inc (T) Misses Q3 EPS by 1c
- After-Hours Stock Movers 10/22: (SCSS) (TSCO) (INFN) Higher; (AIRM) (ADHD) (YELP) Lower (more...)
- Yelp (YELP) Tops Q3 EPS by 2c; Issues Light Q4 Revs Outlook
- Family of Ebola infected nurse Amber Vinson says doctors are 'no longer able to detect virus in her body' - CBS
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
- UPDATE: Credit Suisse Upgrades Seaspan (SSW) to Neutral
- Dougherty & Co Upgrades Ethan Allen Interiors (ETH) to Buy
- 3D Systems (DDD) PT Slashed to $44 at Needham & Company; 'Buy' Maintained
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!