KeyBanc Downgrades Hasbro (HAS) to Hold; Lack of NT Catalysts
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Price: $48.46 +1.59%
Rating Summary:
3 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
3 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade HAS Now!
KeyBanc downgraded Hasbro (NASDAQ: HAS) from Buy to Hold citing a more balanced risk/reward dynamic in the wake of strong recent stock performance (year-to-date +17.5% vs. +5.9% for S&P 500) and the absence of any meaningful near-term catalyst.
"While we believe management has taken the necessary steps to better position the Company for future long-term success, through segment restructuring and cost initiatives, we anticipate the real benefit of those actions as well as a more robust product line to be more impactful in 2014 and beyond," the analyst comments. "As such, we do not foresee near-term fundamental upside to earnings and therefore view the current valuation, now at more historical levels, as reasonable."
The firm maintains 2013E of $3.00 per share and introduces 2014E of $3.15 per share.
For an analyst ratings summary and ratings history on Hasbro click here. For more ratings news on Hasbro click here.
Shares of Hasbro closed at $42.15 yesterday, with a 52 week range of $32.00-$42.28.
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"While we believe management has taken the necessary steps to better position the Company for future long-term success, through segment restructuring and cost initiatives, we anticipate the real benefit of those actions as well as a more robust product line to be more impactful in 2014 and beyond," the analyst comments. "As such, we do not foresee near-term fundamental upside to earnings and therefore view the current valuation, now at more historical levels, as reasonable."
The firm maintains 2013E of $3.00 per share and introduces 2014E of $3.15 per share.
For an analyst ratings summary and ratings history on Hasbro click here. For more ratings news on Hasbro click here.
Shares of Hasbro closed at $42.15 yesterday, with a 52 week range of $32.00-$42.28.
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KeyBanc, Standard & Poor's, Hasbro, Earnings
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