On July 28, Hasbro rose 5.13% in regular trading, trading at $95.21/share, with turnover of $190 million. The move was driven by UBS raising its price target on Hasbro to $120 from $110 while maintaining a Buy rating, noting the company's valuation multiple has compressed further even as its business is inflecting.
UBS highlighted that Hasbro's Wizards segment revenue could potentially exceed its Consumer Products business at roughly similar scale, signaling a fundamental shift in the company's revenue composition. The analyst noted Hasbro is well-positioned to beat and raise in H2, as fiscal year guidance for low-double-digit growth in the Wizards segment leaves room for upside. Additionally, Citigroup recently raised its target to $107 from $101, also maintaining a Buy rating.
The bullish sentiment follows Hasbro's strong Q2 results reported on July 21, where adjusted EPS of $1.28 beat the $1.14 consensus by 12%, and revenue of $1.14 billion exceeded the $1.07 billion estimate. The company raised its full-year constant currency revenue growth guidance to 5%-7% from 3%-5%, driven by Magic: The Gathering sales surging 34% in H1.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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