Goldman Sachs Sees Encouraging Demand, Margin Trends For Toy Maker Hasbro
Portfolio Pulse from Shivani Kumaresan
Goldman Sachs analyst Stephen Laszczyk reiterated a Neutral rating on Hasbro Inc (NASDAQ:HAS) and raised the price target from $62 to $65. Hasbro's 2Q24 results beat expectations in revenue, adjusted EBITDA, and adjusted EPS, driven by strong performance in Wizards of the Coast. The analyst is optimistic about demand and margin trends in Hasbro's Consumer Products segment but cautious about the trajectory of WOTC. The analyst increased estimates for revenues, EPS, and free cash flow, and sees potential for $750 million in cost savings by YE2025.
July 26, 2024 | 6:04 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Goldman Sachs analyst Stephen Laszczyk reiterated a Neutral rating on Hasbro Inc (NASDAQ:HAS) and raised the price target from $62 to $65. Hasbro's 2Q24 results beat expectations in revenue, adjusted EBITDA, and adjusted EPS, driven by strong performance in Wizards of the Coast. The analyst is optimistic about demand and margin trends in Hasbro's Consumer Products segment but cautious about the trajectory of WOTC. The analyst increased estimates for revenues, EPS, and free cash flow, and sees potential for $750 million in cost savings by YE2025.
The raised price target and positive outlook on demand and margin trends are likely to boost investor confidence in the short term. However, the Neutral rating and cautious view on WOTC may temper some of the enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100