JPMorgan lowered the firm’s price target on Hasbro (HAS) to $79 from $82 and keeps an Overweight rating on the shares. The company reduced its Consumer Products sales outlook on pressure from fewer closeout sales and Star Wars, the analyst tells investors in a research note. The firm, however, remains “positively inclined” for the toy industry given “very clean” inventories, higher retailer engagement, and the potential for self-help.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HAS:
- Hasbro price target raised to $92 from $80 at Morgan Stanley
- Boeing union rejects latest offer, Tesla reports Q3 beat: Morning Buzz
- Morning Movers: UPS ascends and Textron descends after quarterly reports
- Hasbro reports Q3 adjusted EPS $1.73, consensus $1.28
- Hasbro backs FY24 adjusted EBITDA view $975M-$1.025B