Stifel Nicolaus reduced its rating on Hasbro HAS from Buy to Hold and removed its price target of $40 as it was already reached.
Stifel Nicolaus said, "HAS closed at our target price of $40 this past Friday, capping a 20%+ move over the last 2 months (vs. +8% for S&P 500). And though we remain generally positive on the company's longer-term prospects, given our near-term macro concerns for the industry (retail inventory/Europe/iPad), potential downside risk to our assumptions across select categories (namely Games + Girls), and the seasonal trading patterns exhibited by toy stocks ahead of the holidays (relative underperformance), we are adopting a more conservative stance on the shares."
Hasbro closed at $39.96 on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in