National Bank of Canada on Tuesday maintained its sector-perform rating and target price of $26.00 on Spin Master (TOY.TO) ahead of the company's first quarter financial results.
The bank said Spin Master does not have an outperforming segment nor an aggressive restructuring program, unlike peer Hasbro (HAS). "It also has an incoming new CFO, so we'd be surprised if its guidance isn't pulled," said analyst Adam Shine in a research note.
"TOY was to update its outlook for tariffs with its 1Q, but there's been even more uncertainty after the first week of April," continued Shine. National bank estimates TOY's gross tariff impact at $175 million to $467 million, using HAS tariff assumptions.
The bank believes that if TOY's guidance is not pulled then it will need to be revised lower.
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