Barclays Maintains an 'Equalweight' on Hasbro (HAS); Early Innings of Branded Play Strategy

Barclays maintains an 'Equalweight' on Hasbro (NASDAQ: HAS), PT increased from $44 to $50.

Barclays analyst said, "We held an investor meeting this past Tuesday with Hasbro management. In attendance were Brian Goldner (CEO), David Hargreaves (COO), Deborah Thomas (CFO), and Debbie Hancock (IR). The tone of the meeting was upbeat, with management reiterating its confidence that all the key components of the company's branded play strategy (driven by television and movie initiatives) will impact results for the first time this year and should drive revenue and earnings growth in 2011 and beyond. Our most noteworthy takeaway from the meeting is management's bullish outlook on the international growth prospects for both their traditional toy business and television syndication...Our new 2011E EPS is $3.00 (up from $2.92) due to higher Boys revenues driven by higher estimates for Thor and Beyblade. Our 2012E EPS remains $3.55."

For more ratings news on Hasbro click here and for the rating history of Hasbro click here.

Shares of Hasbro closed at $46.74 yesterday.

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