Stifel Cuts Price Target on JAKKS Pacific (JAKK) Following 2016 Pre-Announcement

Stifel maintained a Hold rating on JAKKS Pacific (NASDAQ: JAKK), and cut the price target to $7.00 (from $8.00), following the company's pre-announced 2016 results. The company is now projecting EPS of $0.01-$0.05 (vs. $0.56 previously), adj. EBITDA of $37 million (vs. $53 million previously), and revenue of $700 million (vs. $755 million previously).

Analyst Drew Crum commented, "This past Friday, JAKKS Pacific pre-announced '16 results, citing lower-than-expected sales of key product lines. This follows a reduction to the '16 outlook in conjunction with 3Q16 earnings in late October ~ the company has cut annual guidance 4 of the last 6 years. We are reducing estimates, and keep our Hold rating on the shares."

For an analyst ratings summary and ratings history on JAKKS Pacific click here. For more ratings news on JAKKS Pacific click here.

Shares of JAKKS Pacific closed at $7.05 yesterday.

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