Citi lowered the firm’s price target on Hasbro (HAS) to $52 from $62 and keeps a Neutral rating on the shares. Hasbro continues to stumble through its turnaround and struggle to present achievable guidance, the firm said in a research note on Friday. To some degree, Mattel’s (MAT) non-Barbie guide down lends credence to the underlying weakness that Hasbro is seeing at retail, although the multitude and magnitude of the guide downs are likely to limit investor confidence in the latest numbers, even though the recent selloff in the stock may be tantalizing for value-oriented investors, Citi adds.
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