Marvel Entertainment Inc.'s stock dipped Friday as an analyst downgraded the company, saying it lacks a catalyst that could push shares higher next year.
Drew Crum of Stifel Nicolaus & Co. said in a client note that Marvel's "Iron Man" film, which was the first that the company financed itself, should contribute to profitability over the next several quarters. A similar scenario is possible for "The Incredible Hulk" movie, set for release next Friday.
Looking toward next year, Crum is a bit more cautious, as "without any major event scheduled for 2009 the business may lack a catalyst and shares could get complacent."
The analyst lowered his rating to "Hold" from "Buy," but said he is more optimistic on the company's longer-term growth prospects.
Shares of Marvel Entertainment, which licenses comic book characters for films and consumer products, dropped $2.07, or 5.7 percent, to $33.99. Over the last year, the stock has traded in a range of $21.21 to $36.30.
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