Jakks Pacific jumps after BMO upgrades stock to 'outperform'

JAKKS Pacific

03/05/2022 16:09

** Shares of toymaker Jakks Pacific  JAKK.O  surge as much
as 14.9% to touch an over one-month high of $15.28 
    ** BMO Capital Markets upgrades JAKK to 'Outperform' from
'Market perform', and raises price target to $21 from $15
    ** BMO analyst Gerrick Johnson says he has confidence in
JAKK's product line up, with co benefiting from toy licenses
from video game giants Nintendo and SEGA 
    ** JAKK is benefiting from the "Sonic" movie released in
March and will likely benefit from producing toys tied to a new
"Super Mario" movie in 2023- Johnson
    ** Analyst adds that a potential economic slowdown will have
minimal impact to JAKK's business    
    ** JAKK last up 13.2% and set for it best day in over four
months if gains hold
    ** With Tuesday's jump, JAKK up over 48% YTD; Rival Mattel
Inc  MAT.O  up 15%, while Hasbro Inc  HAS.O  down 11%
    

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; Twitter: https://twitter.com/sampath_uday
  ;))