Hasbro price target raised to $75 from $63 at Jefferies

Jefferies raised the firm’s price target on Hasbro to $75 from $63 and keeps a Buy rating on the shares. The firm notes the company reported better-than-expected Q1 results on the top and bottom lines. Consumer Product sales were down but slightly beat expectations, while WotC sales grew 7% year-over-year led by Licensed Digital Games. Looking ahead, management reiterated full year guidance, which Jefferies view as conservative. The firm is also raising its adjusted EBITDA estimate to the high-end of the guidance range.