Hasbro price target raised to $77 from $69 at Morgan Stanley

Morgan Stanley analyst Megan Alexander raised the firm’s price target on Hasbro to $77 from $69 and keeps an Overweight rating on the shares after its SQ1 earnings beat and affirmed guidance. The perceived conservatism in the outlook reinforces the firm’s bullish view as strong margin performance and point-of-sale momentum lends greater visibility toward an inflection in the second half of the year, the analyst tells investors in a research note. Morgan Stanley adds that it continues to see an attractive rate of change story for both Hasbro’s topline and margins, the firm added.