Hasbro's (HAS) "robust profitability" in fiscal Q3 shows continued momentum in its transformational strategies as underlying demand drivers in both segments are gearing up, Morgan Stanley said in a Friday note.
The Magic segment reported another "impressive" quarter, while the core toy business has "stabilized with green shoots driving stronger visibility to a return to growth," the report added.
For 2025, there is "improving" visibility in the company's operations, including a continued "robust" margin upside in the consumer products segment, the note said.
Morgan Stanley raised Hasbro's price target to $92 from $80 and maintained an overweight rating on the stock.
Shares of the company were up 2.9% in recent Friday trading.
Price: 68.01, Change: +1.91, Percent Change: +2.89
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