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Hasbro (HAS) PT Lowered to $91 at BofA Securities

September 27, 2022 9:39 AM EDT
Get Alerts HAS Hot Sheet
Price: $58.94 --0%

Rating Summary:
    13 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 9 | New: 4
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BofA Securities analyst Jason Haas lowered the price target on Hasbro (NASDAQ: HAS) to $91.00 (from $96.00) while maintaining a Buy rating following an expert call.

The analyst commented, "We hosted an expert call with Andrew Westin, owner and operator of Buzz City Games, a local game store (LGS) in North Carolina, to discuss Magic: The Gathering (Magic) and Dungeons and Dragons (D&D). We also conducted a number of calls with other Magic players, collectors, LGS and distributors and have come away marginally more cautious that end market demand is moderating. This has been a key area of investor debate. The Wizards segment accounts for roughly 20% of Hasbro’s revenue and 46% of EBITDA. Magic accounts for roughly 75% of Wizards."

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