Hasbro initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Megan Alexander initiated coverage of Hasbro with an Overweight rating and $84 price target. The analyst expects upward earnings revisions as new management executes on its strategic plan to simplify Hasbro’s business, cut costs, invest in innovation, and drive core topline growth. Better visibility to 2024 profitability improvements could improve investor sentiment and drive multiple expansion, the analyst tells investors in a research note.