Hasbro price target lowered to $55 from $65 at JPMorgan

JPMorgan lowered the firm’s price target on Hasbro to $55 from $65 and keeps a Neutral rating on the shares ahead of the Q3 report. Despite expected strong Wizards/Gaming performance, Hasbro is widely expected to miss estimates and cut the year outlook due to core toy weakness, the analyst tells investors in a research note. The firm expects a more conservative sales view and took down its 2023 consumer products revenue forecast to down 7%.