- DA Davidson analyst Linda Bolton Weiser reiterated its Buy rating on Funko Inc FNKO and lowered the price target to $48 from $50.
- The analyst said the company had reported a bigger-than-expected gross margin decline in 2Q22.
- Weiser said Funko’s new product launches, expanded NFT offerings, and distribution gains abroad should make it fairly resilient in a recession.
- The company reported a 640 basis points decline in 2Q gross margin to 32.7%.
- Price Action: FNKO shares are trading lower by 18% at $21.88 on the last check Friday.
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