Jefferies upgrades Funko to Buy on confidence in 10%-plus growth 05:07 FNKO Jefferies analyst Stephanie Wissink upgraded Funko to Buy from Hold with a price target of $25, up from $21. The analyst has grown "increasingly confident" in the company's 10%-plus medium term growth profile and its business trajectory after attending last week's 2021 Virtual Licensing Expo event. Wissink sees a favorable backdrop as store traffic returns and says Funko's model is "de-risked" by property, category and geographic concentration. Figures remain the most popular expression for Funko fans, but additional categories continue to co-grow, Wissink tells investors in a research note. Covid "provided space for fans to dig deeper into back stories, lore, and to unearth second and third level characters," which has reinforced the breadth of the company's approach and reinforced its "tight lock on licensing partnerships," says the analyst.

