UBS analyst Arpine Kocharyan lowered the firm’s price target on Hasbro to $90 from $110 and keeps a Buy rating on the shares. Hasbro on Thursday announced the reduction of 1,000 global full time positions, the departure of COO Eric Nyman, and preliminary Q4 results that overall were below already-lowered expectations, the analyst tells investors in a research note. The cost of the restructuring seems higher than Hasbro guided earlier, and the sale of non-Hasbro IP assets under eOne is under way, the firm adds.
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