Analyst Gerrick Johnson of Seaport Global maintained a Buy rating on Spin Master, with a price target of C$34.00.
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Gerrick Johnson has given his Buy rating due to a combination of factors that highlight Spin Master’s potential for improvement and growth. Despite experiencing three consecutive years of declining earnings, the company has undergone a management change that is expected to drive efficiency and growth. This shift in leadership is seen as a positive step towards reversing the company’s recent performance trends.
Furthermore, Spin Master’s stock has seen a significant decline of 40% year-to-date, which has resulted in a valuation that is considered attractive. The stock is currently trading at a lower multiple compared to its peers and its historical average, making it a compelling investment opportunity. Johnson believes that these factors, combined with the company’s strategic initiatives, position Spin Master well for future success, justifying his Buy rating.
In another report released on October 31, Jefferies also maintained a Buy rating on the stock with a C$26.00 price target.