Needham & Company Cuts Estimates on Hasbro (HAS), Citing Increased Retailer Wariness, Falling Consumer Sentiment and Weakness in Game Sales
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Price: $96.70 --0%
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Hasbro (NASDAQ: HAS) price target lowered from $51 to $42.
Needham analyst says, "We believe the mood among toy retailers has worsened in recent weeks, and that Hasbro will find it more difficult to achieve our previous sales and profit estimates. Furthermore, the slow progress in ratings growth at the Hub lead us to be more cautious in our outlook on how the network will contribute to overall results. We have reduced our 2011 EPS estimate from $2.95 to $2.85, and cut our 2012 estimate from $3.50 to $3.20. We have also taken a more conservative view of the upside in HAS shares over the next 12 months, lowering our price target to $42. We maintain our rating, as we continue to see significant upside from current levels."
For more ratings news on Hasbro click here and for the rating history of Hasbro click here.
Shares of Hasbro closed at $33.25 yesterday.
Needham analyst says, "We believe the mood among toy retailers has worsened in recent weeks, and that Hasbro will find it more difficult to achieve our previous sales and profit estimates. Furthermore, the slow progress in ratings growth at the Hub lead us to be more cautious in our outlook on how the network will contribute to overall results. We have reduced our 2011 EPS estimate from $2.95 to $2.85, and cut our 2012 estimate from $3.50 to $3.20. We have also taken a more conservative view of the upside in HAS shares over the next 12 months, lowering our price target to $42. We maintain our rating, as we continue to see significant upside from current levels."
For more ratings news on Hasbro click here and for the rating history of Hasbro click here.
Shares of Hasbro closed at $33.25 yesterday.
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