Goldman upgrades Funko to Neutral after positive updates on trade and tariffs

As previously reported, Goldman Sachs upgraded Funko (FNKO) to Neutral from Sell with a price target of $5.50, down from $7. Funko reported Q1 results that were in-line to better than both the company’s guidance and Visible Alpha consensus expectations, withdrew its previously provided 2025 outlook and outlined steps being taken to completely offset the impact of the then-current $45M of incremental tariffs within the year, the analyst noted. The firm now views the risk/reward as balanced, especially following the implementation of mitigation efforts by management and positive updates on the trade and tariff front with China this week, the analyst tells investors.