BMO Capital analyst Gerrick Johnson reiterated a Market Perform rating and $66 price target on Hasbro after the company announced preliminary Q4 results below Wall Street estimates. The firm said the announcement was neither shocking nor surprising, and it had even anticipated a bigger kitchen sink quarter and worse operating results. BMO noted that what did end up surprising was the announcement that write-downs were mostly reorganization-related and not operational, with no mention of writing off inventory or minimum royalty guarantees.
Published first on TheFly
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