Piper Jaffray Upgrades Hasbro (HAS) To Buy With A $48 Price Target
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Today, Piper Jaffray upgraded Hasbro (NYSE: HAS) to Buy and raised its price target from $36 to $48. Piper Jaffray upgraded shares of Hasbro after announced increased sales and earnings. Piper increased its EPS target for CY09 from $2.35 to $3.00 and Piper thinks the Street estimates appear low.
Additionally, Piper Jaffray said that Hasbro has the most attractive portfolio. It is also taking market share, cash flows are strong and operating model continues to improve.
Piper thinks that Hasbro represents the best-in-class opportunity in the toy segment.
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