Entertainment One Ltd (LON:ETO) shares rose on Tuesday as JPMorgan Cazenove reiterated its ‘overweight’ rating as new theme parks drive further brand recognition and additional monetisation opportunities.
The City broker also upgraded its price target to 546p from 423p.
In a note to clients, analysts at JPMorgan said Peppa Pig is becoming a global brand and Family goes ‘from strength to strength.’
The analysts said: “Recent announcement by Merlin Entertainment to open up to 50 new “Peppa Pig World of Play” theme parks in the next few years strongly underlines the longevity of the brand and will add to brand recognition and monetization opportunities.”
The analysts said they have flagged the opportunity in Family before and the rollout of the Family operations (the Peppa Pig franchise but also increasingly PJ Masks/Ben&Holly) continues to perform particularly well in markets like the US and China.
In morning trading, Entertainment One’s shares rose 2.1% to 369.60p.