Hasbro price target lowered to $51 from $53 at BofA

BofA analyst Jason Haas lowered the firm’s price target on Hasbro to $51 from $53 and keeps a Neutral rating on the shares after the company reported Q4 EPS that was below the firm’s forecast and consensus and set 2024 guidance below the Street view due to a Consumer Products revenue decline of 7%-12%. Given the earnings miss, the firm is lowering its FY24 and FY25 EPS forecast by 20% and 17%, respectively.