J.P. Morgan analyst Christopher Horvers maintained a Buy rating on Hasbro (HAS – Research Report) today and set a price target of $75.00.
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Christopher Horvers has given his Buy rating due to a combination of factors that highlight Hasbro’s strong performance and promising future prospects. Recent results from Hasbro significantly exceeded market expectations, driven by robust sales in the Consumer Products and Wizards segments, as well as a notable improvement in gross margins and operating income. This positive momentum is further supported by management’s optimistic outlook, particularly in the Wizards segment, which is projected to have a record year thanks to popular releases like Final Fantasy and Spider-Man.
Additionally, Hasbro’s management has unveiled a strategic plan, ‘Playing to Win,’ which aims to drive cost savings and improve margins over the next few years. By 2027, the company targets an EBITDA of approximately $1.4 billion, signaling confidence in its growth trajectory. These factors, coupled with the expectation of ongoing expense efficiencies and a promising slate of entertainment products, solidify Horvers’s confidence in a Buy rating for Hasbro, with a price target of $75 by December 2025.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $82.00 price target.