S&P Capital IQ Reiterates its BUY Rating on Hasbro, Target Price Reduced

October 18 00:00 2011

NEW YORK, October 18 (RainbowNewsLine.com) – Analyst Michael Souers of S&P Capital IQ maintains the BUY rating on the shares of Hasbro (NASDAQ: HAS). The target price is reduced from $50 to $45.

Analyst Michael Souers, in a research note published yesterday mentions that the company reported its Q3 EPS short of the estimates, as sales were weaker than expected mainly due to timing issue of shipments. The EPS estimate for 2011 & 12 is $3.00 & $ 3.40 respectively reflecting the optimistic view on  holiday season. The analyst continues to favor Hasbro’s entertainment brand and expect halo effect for Transformer line. However, the target price is reduced based on updated peer and historical analysis.