Time to put on your investor cap for a moment as TheStreet provides us with the following update on Hasbro’s stock price in an article posted eariler today. Check out the intro below and then take the source link for the full read.
Barclays upgraded Hasbro (HAS – Get Report) to “equal weight” from “overweight” on Friday, setting a price target of $62 for the toymaker.
Barclays analyst Felicia R. Hendrix said the downgrade is due to a valuation call, and isn’t based on anything learned at the recent New York Toy Fair. The analyst firm continues to be impressed by “Hasbro’s ability to connect with consumers through innovation, story-telling and leading brands” based on what it saw at the Toy Fair.
Hendrix said Hasbro’s balance sheet is strong, and that the company “should return” $351 million to shareholders in 2016 and 2016 through dividends and share repurchases. The analyst also highlighted toys based on the upcoming Star Wars: Episode VII, saying “many bulls believe the stock could trade up to historically high valuation levels.”
Follow Justin on Twitter @justinlasalata