12:58 PM EST, 01/24/2025 (MT Newswires) -- In its preview of Spin Master's ( SNMSF ) fourth-quarter results National Bank is forecasting gross product sales (GPS) +30% (flat ex Melissa & Doug) to $652 million, total revenue +31.6% (+4.5% ex-M&D) to $661.5 million.

Analyst Adam Shine will wait to see if U.S. tariffs will be imposed on China, how pervasive these will be, and what percent may be involved. Tariffs on China during Trump's first term didn't really touch toys, and it's not a given they will this time, Shine adds. It's hard to see the United States as a major hub of toy manufacturing or many related jobs being repatriated.

Shine estimates that a 10% tariff would impact adjusted cost of goods sold by ~$31.5 million or $1.60/share.

Sin Master is rated Sector Perform, with a $35 target.

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