Analysts See Hasbro's Mixed Q3 As Pathway To Growth: Cost Cuts, Gaming, And Product Innovation In Focus
Portfolio Pulse from Anusuya Lahiri
Hasbro's Q3 results showed a 15% sales decline, but analysts see potential for growth through cost cuts, gaming, and product innovation. JPMorgan and BofA Securities maintain positive ratings, with price targets of $79 and $95, respectively. Hasbro's focus on digital gaming and product innovation, alongside a $750 million cost reduction plan, positions it for future growth.
October 25, 2024 | 5:23 pm
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NEUTRAL IMPACT
Target is mentioned as a retailer focusing on event-driven traffic, with toys being a significant draw, which could benefit Hasbro's sales.
Target's strategy to focus on event-driven traffic with toys as a significant draw could indirectly benefit Hasbro, but the impact on Target's stock is minimal.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Hasbro reported a 15% sales decline in Q3, but analysts maintain positive outlooks due to cost cuts, gaming, and product innovation. JPMorgan and BofA Securities have price targets of $79 and $95, respectively.
Despite a sales decline, analysts are optimistic about Hasbro's future due to strategic cost reductions, focus on digital gaming, and product innovation. Positive analyst ratings and price targets suggest potential stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100