Funko price target lowered to $9 from $11 at Stifel

Stifel lowered the firm’s price target on Funko to $9 from $11 and keeps a Hold rating on the shares ahead of Q2 results, which the company is scheduled to report on August 3. The firm is forecasting “another period of meaningful sales declines and losses,” largely due to elevated inventories, but further progress on operational initiatives, the analyst said. Various macroeconomic challenges, ongoing Hollywood labor disputes, and an abrupt exit by the CEO could drag on the shares in the interim, the analyst added.