Hasbro price target lowered to $80 from $95 at DA Davidson

DA Davidson analyst Linda Bolton Weiser lowered the firm’s price target on Hasbro to $80 from $95 but keeps a Buy rating on the shares. After pre-announcing a Q4 shortfall, the company reported a full quarter and issued 2023 guidance that were "quite short" of expectations, the analyst tells investors in a research note. Hasbro has many top line drivers in 2023 however, including toys to support six blockbuster movies such as the next Transformers theatrical release in June and the Dungeons & Dragons movie on March 31st, the firm notes, adding that Magic the Gathering will also launch its newest Universes Beyond set based on the Lord of the Rings series, Tales of Middle Earth.