Hasbro (HAS) Fireside Chat Highlights Supply Chain Resolution Strategy and Dramatically Growing eCommerce Channel - Jefferies

November 3, 2021 8:14 AM EDT
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Price: $90.73 --0%

Rating Summary:
    14 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 8 | New: 4
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Jefferies analyst Stephanie Wissink reiterated a Buy rating and $120.00 price target on Hasbro (NASDAQ: HAS) after hosting a Fireside Chat with Eric Nyman, COO of Hasbro Consumer Products which revealed the pandemic expediting adoption of eCommerce has driven a new target to as much as 50% of global sales, via eCommerce, by 2025, compared to ~28% currently. Additionally, the company is stepping into gaps by expanding ports and shipping channels and air freighting to meet Q4 toy demand.

The analyst stated "Post-event, we expect to more closely monitor franchise initiatives related to DTC and 3P marketplaces, esp in the fan economy, where HAS has invested in capabilities and talent. Nyman also spoke to the convergence of digitization & content on marketing strategies, with eOne providing enhanced modern capabilities to develop advertainment to both brand build and activate demand."

We walked away seeing Q4 as achievable; FY22 unchanged, although watching for lingering supply chain effects.

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 $93.45 yesterday.

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