MKM Partners analyst Eric Handler raised the price target on Hasbro (NASDAQ: HAS) to $112.00 (from $102.00) while maintaining a Buy rating.

The analyst commented, "We remain positive towards Hasbro and its two year (2019-2020) growth outlook following its 1Q outperformance. Aside from exceeding projections across all key metrics in the seasonally slow 1Q, there were multiple signs the company is beginning to turn the corner as it makes its way back towards the peak levels of 2017. While management left its 2019 guidance unchanged (as there is still a long way to go in the year) we are modestly raising our full year EPS to to $4.50 from $4.40 (letting some of the 1Q upside flow through). In our view, the combination of a strong product pipeline and management's cost savings initiatives could steadily push our forecast even higher as the year progresses. As a result, we are raising our price target from $102 to $112, based on 25x/22x our 2019/2020 EPS estimates."