Hasbro (HAS) Likely to Outperform in 2022, MKM Partners Reiterates Buy

January 13, 2022 8:38 AM EST
Get Alerts HAS Hot Sheet
Price: $83.57 +2.40%

Rating Summary:
    14 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 13 | New: 20
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MKM Partners analyst Eric Handler reiterated a Buy rating and $118.00 price target on Hasbro (NASDAQ: HAS) noting expectations for an in-line 4Q combined with an attractive 2022 growth outlook.

The analyst believes this is enough to fuel outperformance for Hasbro's shares over the next 12-months, stating "Despite supply chain constraints, we believe Hasbro shipped enough product in the year-end quarter to approach the high end of its full-year 13%-16% revenue growth forecast. Looking ahead to the coming year, we see positive drivers within each of the company's three business segments and look for further validation of the Brand Blueprint media transition. We are also encouraged by the steady decline in gross leverage, which likely finished 2021 at 3.3x, down from 4.8x at the end of 2020, and should fall another half-turn this year. Our price target remains $118 based on 23x our 2022E EPS."

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 $102.71 yesterday.



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