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.
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