UPDATE: JP Morgan Downgrades Funko to Underweight, Lowers Price Target to $9.50 Notes 4 Potential Catalysts:

1. concerned on the ‘content cliff’ from the blockbuster 2019 calendar of hit “superhero” and fantasy movies 2. backhalf weighted guidance that appears

Benzinga · 02/06/2020 16:07

1. concerned on the ‘content cliff’ from the blockbuster 2019 calendar of hit “superhero” and fantasy movies

2. backhalf weighted guidance that appears hopeful

3. unexplainable soft performance internationally in 4Q

4. potential investor concerns that FNKO’s Pop! format has seen its best days given ongoing pushes from competitors and the overall bigger effort from traditional players to leverage content