Morgan Stanley sees Hasbro, Inc. (HAS) as one of their high conviction stocks while its shares are being sold by asset managers including BNP PARIBAS and Liontrust Investment Partners. However, the stock continues an impressive transformation, popping and rallying significantly year to date. Notably, analyst upgrades, top growth momentum, and Q1/Q2 earnings beat are contributing to its rise.
Negative sentiment persists as well, with stock decline over the past few years, insider sale by Corporate Secretary Tarrant Sibley and expectations of lower future sales. Despite this, the company’s strengthening brand and a surge in digital gaming strength are positive signals. An acquisition offer for competitor Mattel also stirs the market. An upgrade by Bank of America, strong earnings beat and raised guidance also contribute to the stock’s upside.
Cost cuts and inventory reductions, licensing strength, and new strategies are seen as positives by investors. However, the company expects potential negative impact from a weak holiday season and labor strikes. Overall, mixed sentiments loom around Hasbro’s financial performance and future outlook.
Hasbro Stocks HAS News Analytics from Thu, 26 Oct 2023 07:00:00 GMT to Sat, 31 Aug 2024 13:01:49 GMT - Rating 3 - Innovation 2 - Information 5 - Rumor -1