JPMorgan lowered the firm’s price target on Hasbro (HAS) to $79 from $82 and keeps an Overweight rating on the shares. The company reduced its Consumer Products sales outlook on pressure from fewer closeout sales and Star Wars, the analyst tells investors in a research note. The firm, however, remains “positively inclined” for the toy industry given “very clean” inventories, higher retailer engagement, and the potential for self-help.
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