Hasbro (HAS) PT Lowered to $76 at BMO Capital

BMO Capital analyst Gerrick Johnson lowered the price target on Hasbro (NASDAQ: HAS) to $76.00 (from $80.00) while maintaining a Market Perform rating.

The analyst commented, "With new CEO, Chris Cocks, concluding his nine-month review, HAS issued its new strategic framework titled Blueprint 2.0. HAS is not abandoning the Brand Blueprint, successfully pioneered by late CEO, Brian Goldner. The difference is that Blueprint 2.0 now places the consumer at the center of the strategy rather than the brand.

In conjunction, HAS laid out a five-year plan targeting mid-single-digit compound annual revenue growth and an operating profit margin above 20%. Of bigger concern for investors, however, was a reduction in 2022 financial outlook. Target lowers to $76."

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