Piper Jaffray Upgrades Hasbro (HAS) to Overweight Ahead of Star Wars and 2016 Catalysts
Get Alerts HAS Hot Sheet
Rating Summary:
12 Buy, 13 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Piper Jaffray upgraded Hasbro (NASDAQ: HAS) from Neutral to Overweight with a price target of $85.00, saying the pullback offers an opportunity into Star Wars sales and 2016 catalysts.
Analyst Stephanie Wissink commented, "The broader market volatility and stock price dislocation has provided the opportunity for us to revisit our HAS thesis. Price recalibration, visibility into a series of near-term catalysts, and confidence following recent travels with management all have contributed to our updated view."
She added, "We are upgrading to Overweight, maintaining our estimates and $85 PT and recommending increased exposure into the Star Wars market date on Friday and the subsequent buzz and momentum that is likely to follow over the next several weeks. The model is poised to deliver incremental leverage with each percentage point of growth and 50bps of margin adding $0.20 to EPS."
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 $72.52 yesterday.
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