Why Hasbro Stock Popped Today
Portfolio Pulse from Ryan Gustafson
Hasbro, Inc. (NASDAQ:HAS) shares traded higher after B of A Securities analyst Jason Haas raised the price target from $85 to $90. Haas was optimistic about the launches of Monopoly Go and Baldur's Gate 3 by Hasbro and the royalty revenue collected from them. He also urged investors to acknowledge the company's potential to generate high-margin licensing revenue from its strong IP library. Hasbro also gained after Macy's said it anticipates a strong holiday for toys.
August 22, 2023 | 8:51 pm
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POSITIVE IMPACT
Hasbro's stock price increased after an analyst raised the price target and expressed optimism about the company's new game launches and potential for high-margin licensing revenue.
The news of the raised price target by a B of A Securities analyst, coupled with the positive outlook on Hasbro's new game launches and potential for high-margin licensing revenue, has led to an increase in the company's stock price. This is likely to have a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100