HAS Beats Q4 Expectations Driven By Cost Control
Analysts at Citigroup maintain their "hold" rating on Hasbro Inc (NYSE: HAS). The target price for HAS is set to $32.
Hasbro reported its Q4 EPS ahead of expectations, due mainly to better-than-expected cost control. Sales at most of HAS’ categories accelerated during the quarter.
HAS expects to grow EPS and sales in 2010 including dilution from the Discovery JV, while consensus forecast is for a 3% decline in EPS and 1% decline in sales. “Despite mgmt's optimism for growth in 2010, HAS will still be a show me story in 2010, in our view, given the tough comparisons associated w/ entertainment properties,” the analysts add.
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