The Globe and Mail reports in its Friday edition that Stifel analyst Martin Landry has reaffirmed his "buy" call for Spin Master. The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry gave his share target a $4 boost to $54. Analysts on average target the shares at $51.14. While Mr. Landry thinks the valuation multiple for Spin Master's $950-million (U.S.) acquisition of Melissa & Doug "looks full at first glance" at 10.5 times 2022 adjusted earnings before interest, taxes, depreciation and amortization. Mr. Landry says the deal can be "justified by the strong brand notoriety and faster growth profile than the industry," seeing it as "long awaited" by investors. Mr. Landry says in a note: "For modeling purposes, we have assumed that the transaction closes on Feb. 1, 2024, and included the financial contribution from that date onward in our forecasts. The acquisition increases our 2024 revenue estimates by 20 per cent and our EPS estimates by 9 per cent given the debt servicing cost and the lost interest income, which Spin Master would have generated on its cash balance. We have not factored any cost synergies in our FY24 forecasts, leaving potential upside to our estimates."