Jefferies analyst Kylie Cohu maintained a Buy rating on Spin Master (TOY – Research Report) yesterday and set a price target of C$37.00.
Kylie Cohu’s rating is based on Spin Master’s strategic initiatives and promising product lineup. The company has shown innovation in its upcoming theatrical releases and pretend play products, which are expected to drive growth. The extension of the Gabby’s Dollhouse license with Dreamworks is a significant development, indicating strong partnerships and potential for increased sales.
Additionally, Spin Master’s diverse product offerings, such as the How to Train Your Dragon line and the Primal Hatch associated with Jurassic World, cater to a wide audience and are likely to boost revenue. The company’s focus on expanding its licensing with Disney and maintaining the popularity of established properties like Paw Patrol and Unicorn Academy further supports the positive outlook. These factors combined suggest a solid growth trajectory, justifying the Buy rating.
In another report released on March 5, Stifel Nicolaus also maintained a Buy rating on the stock with a C$40.00 price target.
TOY’s price has also changed moderately for the past six months – from C$30.120 to C$26.200, which is a -13.01% drop .