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Scotia Capital analyst George Doumet raised his Spin Master Corp. to $52 from $48 with a “sector perform” rating. The average is $55.55.
“Once again, and for the third consecutive time, TOY handily beats expectations and raised their full-year guidance,” he said. “Similar to last quarter, the company raised its revenue guidance, while maintaining its adj. EBITDA range. And once again, there is some talk of conservatism given the strong holiday demand underpinned by strong POS exit data.
“While we continue to be impressed on how well the company has managed pressures from freight, packaging, and inputs, we see little upside from valuation (with shares trading at 10 times 2022 EBITDA estimates), especially in the context of what we believe could be a potentially tough comp headwind in 2022.”
