Hasbro Inc (NASDAQ:HAS), the iconic toy and game company, got an upgrade from JPMorgan on Thursday.
Following insightful meetings with Hasbro’s CEO Chris Cox and CFO Gina Goetter at JPM’s 52nd Annual TMC Conference, analyst Christopher Horvers, CFA has upgraded Hasbro from Neutral to Overweight. He also raised the price target from $61 to $74, that’s over 20% upside from current price levels.
Here’s why he says Hasbro will achieve stellar performance in the coming months.
Superior Cost Efficiency, Capitalizing On Industry Trends
Horvers believes that the consensus forecasts for Hasbro’s cost efficiency and digital gaming revenue are too conservative. He expects these areas to ramp up significantly in the second half of 2024 and into 2025.
This confidence is based on his assessments and discussions at the conference, suggesting that Hasbro’s strategic moves in cost management and …
Full story available on Benzinga.com
