UBS lowered the firm’s price target on Hasbro to $68 from $72 and keeps a Buy rating on the shares. The firm is revising Hasbro estimates lower given more challenging Q4 and 2024 revenue guide that hinges upon consumer product segment recovery. It is all about margin recovery for Hasbro this year, given more challenging top line backdrop, and a cleaner slate given divestiture of entertainment business under eOne that by UBS’s estimates had 3%-4% of operating profit margin, the firm said in a research note on Friday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HAS:
- Hasbro price target raised to $61 from $58 at Jefferies
- Hasbro, Max-Matching Entertainments announce strategic licensing partnership
- What You Missed This Week in Video Games
- Hasbro price target lowered to $51 from $53 at BofA
- Hasbro has brought in roughly $90M from ‘Baldur’s Gate 3’ so far, Bloomberg says