KeyBanc Downgrades Hasbro (HAS) to Hold; Lack of NT Catalysts

March 13, 2013 7:46 AM EDT
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Price: $84.04 -0.6%

Rating Summary:
    3 Buy, 16 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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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.

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