Jason Haas CFA, an analyst from Bank of America Securities, maintained the Hold rating on Hasbro (HAS – Research Report). The associated price target is $51.00.
Jason Haas CFA has given his Hold rating due to a combination of factors influencing Hasbro’s current market position and future outlook. This includes a recent uptick in toy imports to the U.S., which showed a significant year-over-year increase, suggesting a potential improvement in the sector. However, this positive aspect is tempered by general merchandise spending, which, while also on the rise, may not fully reflect in Hasbro’s performance.
Furthermore, specific challenges at major retailers like Walmart and Costco, where toys, including Hasbro’s products, underperformed, contribute to a cautious outlook. With Walmart being a significant sales channel for Hasbro, softness in this area is of concern. The Hold rating reflects Haas’s view that while there are some positive indicators, there are equally pressing challenges that may hinder Hasbro’s growth in the near term, warranting a neutral stance until the company’s turnaround efforts materialize more concretely.
HAS’s price has also changed moderately for the past six months – from $72.790 to $50.250, which is a -30.97% drop .
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Hasbro (HAS) Company Description:
Hasbro, Inc. engages in the provision of children and family leisure time products and services with a portfolio of brands and entertainment properties. The firm operates under the following brands: Littlest Pet Shop, Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh, and Transformers. It operates through the following segments: United States and Canada, International, and Entertainment, Licensing and Digital. The United States and Canada segment refers to the marketing and sale of products in the United States and Canada which include the innovation and reinvention of toys and games. The International segment engages in the marketing and sale of product categories to retailers and wholesalers in Europe, Latin and South America, and the Asia Pacific region and through distributors in those countries where there is no direct presence. The Entertainment, Licensing and Digital segment conducts movie, television and digital gaming entertainment operations. The company was founded by Henry Hassenfeld and Hilal Hassenfeld in 1923 and is headquartered in Pawtucket, RI.
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