Jefferies Maintains an 'Buy' on Hasbro (HAS); Resetting the Bar: Reducing PT and Estimates on 3Q Weakness

Jefferies maintains an 'Buy' on Hasbro (NASDAQ: HAS) price target cut from $56 to $44.

Jefferies analyst says, "We are reducing our estimates and price target following a disappointing 3Q in which sales growth and operating margins were below our forecasts. We are also taking a more conservative posture on the important upcoming holiday season, with softness in the U.S. still evident in HAS's results."

"We are reducing our ongoing 2011E EPS estimate from $3.04 to $2.89 following
Hasbro's top- and bottom-line miss versus our forecast in the 3Q...Our 2012E is also reduced from $3.75 to $3.30."

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

Shares of Hasbro closed at $34.99 yesterday.

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