Needham & Company Upgrades JAKKS Pacific (JAKK) to Buy; Making Several Moves

Needham & Company upgraded JAKKS Pacific (NASDAQ: JAKK) from Hold to Buy with a price target of $22.00.

Analyst, Sean McGowan, said, "The Board of Jakks Pacific has agreed to several moves designed to increase shareholder value and in response to pressure from shareholders. The moves, which include a self-tender for $80 mm worth of stock at $20 or higher, the expansion of the Board from six seats to eight, with independent directors, and, perhaps most importantly, the agreement to meet with Oaktree Capital Management and provide certain information in OCM’s pursuit of a potential acquisition of JAKK. These moves are significant, in our view, and increase the likelihood of future moves, including a possible acquisition, which could result in the shares having more value."

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 $17.49 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Celcuity Inc (CELC) PT Lowered to $140 at Needham
• NANO Nuclear Announces Participation in Several Investor Conferences