Hasbro Set For Stellar Performance With New Strategies, Cost Savings: JPMorgan
Portfolio Pulse from Surbhi Jain
Hasbro Inc (NASDAQ:HAS) received an upgrade from JPMorgan, with analyst Christopher Horvers raising the price target from $61 to $74. The upgrade is based on Hasbro's superior cost efficiency, strategic product shifts, and innovations in digital gaming. The company expects its $750 million cost-saving program to fully materialize by the end of 2025, boosting profitability. Retail giants like Walmart Inc (NYSE:WMT) and Target Corp (NYSE:TGT) are also expected to drive toy sales, benefiting Hasbro.
May 23, 2024 | 12:44 pm
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POSITIVE IMPACT
JPMorgan upgraded Hasbro from Neutral to Overweight, raising the price target from $61 to $74. The upgrade is based on Hasbro's cost efficiency, digital gaming revenue, and strategic product shifts.
The upgrade from JPMorgan and the raised price target indicate strong confidence in Hasbro's future performance. The focus on cost efficiency, digital gaming, and strategic product shifts are expected to drive profitability and revenue growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Target is expected to drive toy sales, benefiting from Hasbro's strong product placements and cleaner industry inventories.
Target's pivot towards event-driven traffic with toys as a key attraction is expected to benefit from Hasbro's strong product placements, potentially boosting sales.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Walmart is expected to drive toy sales, benefiting from Hasbro's strong product placements and cleaner industry inventories.
Walmart's pivot towards event-driven traffic with toys as a key attraction is expected to benefit from Hasbro's strong product placements, potentially boosting sales.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30