KeyBanc Lowers Price Target on Hasbro (HAS) But Remains Bullish at $50
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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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KeyBanc is reiterating its Buy rating on shares of Hasbro (NASDAQ: HAS) following its investor day and is lowering its price target by $1 to $50.
The firm comments that it left the conference more positive about its thesis and believes that the company is strongly positioned for the next several years. KeyBanc's thesis is based on solid core growth, entertainment initiatives and global expansion, and as several current overhangs on the stock begin to lesson.
Many analysts were disappointed with managements 2012 guidance, but the firm notes that they were just "taking a prudently conservative approach at this point."
An analyst at KeyBanc states, "While we acknowledge that HAS is a show-me story following several quarters of earnings misses, we would look to be more aggressive buyers of HAS amid the current share price weakness as we view the risk/reward proposition as compelling in the wake of now reset estimates and still low investor expectations."
The firm is maintaining its FY11 estimate of $3.00, but is reducing its FY12 estimate from $3.50 to $3.35.
For an analyst ratings summary and ratings history on Hasbro click here. For more ratings news on Hasbro click here.
Shares of Hasbro closed at $36.45 yesterday.
The firm comments that it left the conference more positive about its thesis and believes that the company is strongly positioned for the next several years. KeyBanc's thesis is based on solid core growth, entertainment initiatives and global expansion, and as several current overhangs on the stock begin to lesson.
Many analysts were disappointed with managements 2012 guidance, but the firm notes that they were just "taking a prudently conservative approach at this point."
An analyst at KeyBanc states, "While we acknowledge that HAS is a show-me story following several quarters of earnings misses, we would look to be more aggressive buyers of HAS amid the current share price weakness as we view the risk/reward proposition as compelling in the wake of now reset estimates and still low investor expectations."
The firm is maintaining its FY11 estimate of $3.00, but is reducing its FY12 estimate from $3.50 to $3.35.
For an analyst ratings summary and ratings history on Hasbro click here. For more ratings news on Hasbro click here.
Shares of Hasbro closed at $36.45 yesterday.
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