Hasbro (HAS) PT Lowered to $85 at BMO Capital

BMO Capital analyst Gerrick Johnson lowered the price target on Hasbro (NASDAQ: HAS) to $85.00 (from $93.00) while maintaining a Market Perform rating.

The analyst commented, "In lieu of its annual Toy Fair investor event, Hasbro presented its 2022 Ignite Innovation Showcase last Thursday, billed as a virtual unveiling of, “innovation across Hasbro’s iconic brand portfolio.” The presentation was taped in February and oriented toward retail buyers. Repackaged for investors, it lacked the Goldner flair we've grown to expect. The primary focus was on how HAS will leverage its eOne business to “ignite” its toy and game properties and supercharge its brand blueprint. We are moderating estimates and reducing our target to $85."

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