Hasbro price target raised to $75 from $70 at Argus

Argus analyst Jim Corridore raised the firm’s price target on Hasbro to $75 from $70 and keeps a Buy rating on the shares after its Q2 results. The company remains a leader in the $30B toy industry, while its digital products, licensing agreements, and ability to create content have also differentiated it from other toy companies, the analyst tells investors in a research note. Hasbro valuation is also attractive, with shares trading at 13-times projected 2024 earnings, near the low end of the five-year range of 11-21 and below the average multiple of 21 for other large-cap toy companies, the firm adds.