Hasbro price target lowered to $62 from $70 at Truist

Truist lowered the firm’s price target on Hasbro to $62 from $70 and keeps a Hold rating on the shares. The company’s Q4 results were "disappointing" and its visibility in reaching 2023 guidance looks "limited", the analyst tells investors in a research note. Hasbro should benefit from enacted cost savings initiatives, but the firm "has a hard time" recommending the stock, with major retailers having elected to curtail inventory replenishment following the slow start to the Holiday season.