Goldman Sachs Maintains Top Rating On Hasbro (HAS), Says Sales/Profit At an Inflection
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Price: $93.54 -0.02%
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs reiterated its Conviction Buy List rating on Hasbro (NASDAQ: HAS) today following Thursday's earnings miss.
The analyst said the company is on the verge of a "multi-year sales/earnings inflection, beginning in 2Q11." They expect 14 percent year-over-year sales growth this year and a benefit to profitability from operating leverage and from a mix shift towards licensing.
Goldman sees Transformers driving $300 million incremental sales for the year, Beyblades increasingly looks like it could reach $200-300mn, Forex could provide a 3% tailwind to sales, and Board games less of a material drag.
Goldman tweaked 2011/2012/2013 EPS estimates to $3.33/$3.85/$4.55 from $3.35/$3.90/$4.59 primarily to reflect this quarter's EPS miss. The price target was lowered from $59 to $58, suggesting 30% upside.
For more ratings news on Hasbro click here and for the rating history of Hasbro click here.
Shares of Hasbro closed at $44.40 yesterday.
The analyst said the company is on the verge of a "multi-year sales/earnings inflection, beginning in 2Q11." They expect 14 percent year-over-year sales growth this year and a benefit to profitability from operating leverage and from a mix shift towards licensing.
Goldman sees Transformers driving $300 million incremental sales for the year, Beyblades increasingly looks like it could reach $200-300mn, Forex could provide a 3% tailwind to sales, and Board games less of a material drag.
Goldman tweaked 2011/2012/2013 EPS estimates to $3.33/$3.85/$4.55 from $3.35/$3.90/$4.59 primarily to reflect this quarter's EPS miss. The price target was lowered from $59 to $58, suggesting 30% upside.
For more ratings news on Hasbro click here and for the rating history of Hasbro click here.
Shares of Hasbro closed at $44.40 yesterday.
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