Hasbro price target lowered to $74 from $80 at MKM Partners

MKM Partners analyst Eric Handler lowered the firm’s price target on Hasbro to $74 from $80 after its below-consensus Q4 revenue pre-announcement but keeps a Buy rating on the shares. The majority of the miss came from Consumer Products, but Wizards & Digital Gaming and Entertainment were also below projections, the analyst tells investors in a research note. The firm adds however that the upcoming movie releases for Dungeons & Dragons and Transformers, along with increased emphasis on DTC and collectibles, should be positive events for 2023.