Funko price target lowered to $7 from $13 at DA Davidson

DA Davidson analyst Linda Bolton Weiser lowered the firm’s price target on Funko (FNKO) to $7 from $13 and keeps a Buy rating on the shares. The company’s Q1 sales were in line with a beat on the bottom line due to higher margins and prudent expense management, the analyst tells investors in a research note. Tariffs are a headwind, but Funko laid out three levers to offset their impact – price increases that had been planned before tariffs, cost reductions, and diversifying the supply chain, the firm adds.