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Why Funko Stock Rocketed Higher on Thursday

Danny Vena, The Motley Fool
·2 min read

The catalyst that sent the pop culture toy and accessory maker higher was bullish commentary by a Wall Street analyst. J.P. Morgan analyst Megan Alexander upgraded Funko stock to overweight (buy) from neutral (hold), while also boosting the investment bank's price target to $28, up from $25. The analyst believes investors have yet to fully appreciate the strength of Funko's sales rebound, led by the company's "stable of evergreen properties," which will act as a "consistent ballast to the business," particularly in a recessionary environment.

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