Funko price target lowered to $10.50 from $13 at BofA

BofA analyst Alexander Perry lowered the firm’s price target on Funko to $10.50 from $13 and keeps a Neutral rating on the shares. Revenue declined 24% given the ongoing inventory de-stocking by the company’s largest U.S. wholesale customers, the analyst tells investors in a research note. The firm is also cutting its FY24 EPS view by 25c to 75c to reflect a more cautious wholesale outlook.