Citi On HAS 1Q Results

Citi has issued a report regarding the 1Q reports for Hasbro Inc

. According to the report, “HAS posted 1Q sales of $672mm (vs. FC of $660mm) driven largely by solid growth internationally offset by a decline in North America sales. 1Q EPS was 12c vs. FC of 17c. The co mentioned they incurred higher product development to support increased initiatives in '11 and beyond, continued investments in emerging markets and a fully-staffed TV team.” HAS has a Hold Rating and a $49 Price Target. HAS closed at $44.40 a share yesterday.