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Investment analysts at Piper Jaffray assumed coverage on shares of LeapFrog Enterprises (NYSE: LF) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $11.00 price target on the stock.

The analysts wrote, “We are initiating coverage with an Overweight rating. We think shares present a compelling investment opportunity at current levels, owing to an emerging demographic tailwind and an improved brand building approach that stands to drive better operating performance (toward prior peak of 16%) on stable sales. We expect LeapFrog to outgrow the low single digit industry growth average and to improve its customer following with ongoing product innovation. Earnings power nears $1.00, implying a severely discounted multiple for a company with strong brand equity. Execution is the key risk. Our $11 price target is based on 15x FY14E EPS, a modest discount to the group average.”

LeapFrog Enterprises (NYSE: LF) traded up 3.56% on Monday, hitting $9.90. LeapFrog Enterprises has a 1-year low of $7.00 and a 1-year high of $9.62. The stock’s 50-day moving average is currently $8.52. The company has a market cap of $674.4 million and a price-to-earnings ratio of 7.21.

LeapFrog Enterprises (NYSE: LF) last released its earnings data on Thursday, May 2nd. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.03. The company had revenue of $82.90 million for the quarter, compared to the consensus estimate of $79.47 million. During the same quarter last year, the company posted ($0.14) earnings per share. LeapFrog Enterprises’s revenue was up 15.1% compared to the same quarter last year. LeapFrog Enterprises has set its FY13 guidance at $0.57-0.60 EPS. On average, analysts predict that LeapFrog Enterprises will post $0.64 earnings per share for the current fiscal year.

LeapFrog Enterprises Inc. (NYSE: LF), incorporated in 1997, designs, develops and markets a family of technology-based learning platforms and related content for infants through age twelve, both at home and in schools worldwide.

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