Hasbro (HAS) PT Raised to $103 at MKM Partners

MKM Partners raised its price target on Hasbro (NASDAQ: HAS) to $103.00 (from $98.00) while maintaining a Neutral rating.

Analyst ​Eric Handler commented, "Our view towards Hasbro is unchanged and prefer to wait on the sidelines for a more attractive risk/reward opportunity. Hasbro's 4Q17 revenue and operating income results proved disappointing and certain inventory issues are expected to continue through 1H18. As a result, we continue to view 2018 as a low growth year from an operational standpoint (although a lower tax rate should provide a better than expected bottom line lift). That said, management continues to execute well against its brand blueprint strategy and expanding key brands including NERF, Transformers, Magic: The Gathering and Marvel. We are raising our fair value estimate to $103 (20x 2018E EPS) from $98, but capital appreciation potential appears limited."

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