Seaport Global Securities Reiterates Buy Rating on Hasbro (HAS)

Seaport Global Securities analyst Gerrick Johnson reiterated a Buy rating and $100.00 price target on Hasbro (NASDAQ: HAS).

The analyst comments "We are initiating coverage of Hasbro (HAS) with a Buy rating and $100 price target. We think the opportunity for profitable growth in HAS' toy and toy licensing business is stronger than the market currently appreciates. Meanwhile, Magic: The Gathering, within its Wizards of the Coast segment, continues to rapidly grow. We think the gaming phenomenon has staying power well beyond current expectations. HAS is also well-positioned to take advantage of toy industry strength, a booming collectibles market, and an aging and broadening of the target market. HAS is the most expensive stock in the toy group (12x our 2027E EPS vs 8x for peers), but given the trajectory the company has taken since Chris Cocks was named CEO in 2022, we think a premium is appropriate and the current multiple is too low. We expect earnings growth over the next three years to average +16% per year, meaning HAS trades at a PE/Growth ratio of 0.8."

For an analyst ratings summary and ratings history on Hasbro click here. For more ratings news on Hasbro click here.

Shares of Hasbro closed at $76.57 yesterday.

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