Piper Jaffray Downgrades RC2 Corporation (RCRC) to Hold
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Piper Jaffray downgrades RC2 Corporation (Nasdaq: RCRC) from Buy to Hold.
Piper analyst says, "Shares of RCRC have achieved our valuation objective and we are moving to a Neutral rating (from Buy). Shares of RCRC have increased ~45% in recent weeks and we think much of the near-term upside is reflected in the stock. We continue to believe that fundamentals remain solid, execution is improving and the outlook for the balance on CY08 and CY09 is positive. We continue to favor the acquisition of CPD and believe that estimates (and the stock) for CY09 should move slightly higher as we gain visibility on the consumer and acquisition accretion in the coming months."
RC2 Corporation (RC2) is a designer, producer and marketer of toys, collectibles and infant and toddler products.
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