Market Overview

BMO Upgrades Hasbro, Eyeing Strong Box Office Tie-Ins

BMO Upgrades Hasbro, Eyeing Strong Box Office Tie-Ins

Hasbro, Inc. (NASDAQ: HAS) shares were moving higher Monday after BMO Capital Markets upgraded the toymaker. 

The Analyst

BMO’s Gerrick Johnson upgraded Hasbro from Underperform to Market Perform with a target price lifted from $75 to $88.

The Thesis

While there’s no change in the fundamental outlook for Hasbro, it could get a boost from major movie tie-ins this year, Johnson said in the Monday upgrade note. 

“The stock has now entered the 'Frozen 2' hype cycle,” the analyst said, referring to the upcoming sequel to the massively successful animated fairy tale film 'Frozen.' The sequel is set for a November release, and Hasbro holds the main toy license for the franchise.

Other movie tie-ins for the company that could pay off this year include "Captain Marvel," "Avengers," "Ugly Dolls" and "Star Wars IX," among others, he said. 

Investors could be buying Hasbro on the strength of recent reporting from another toy company, Funko Inc. (NASDAQ: FNKO), which recently reported strong fourth-quarter earnings and a positive 2019 outlook, Johnson said. 

Hasbro also could benefit from investors having a sense of relief that last year’s big disruption in the toy market — the liquidation of Toys R Us — may have played out, in BMO's view. 

Price Action

Hasbro shares were up 1.92 percent at $89.71 at the time of publication Monday. 

Related Links:

Toy Companies Hasbro, Mattel, Not Back to Normal Yet

Optimism In Toyland: Wells Fargo Likes Mattel, Hasbro Moving Forward

Latest Ratings for HAS

Oct 2019MaintainsNeutral
Oct 2019MaintainsHold
Aug 2019MaintainsMarket Perform

View More Analyst Ratings for HAS
View the Latest Analyst Ratings

Posted-In: BMO Capital Markets Gerrick Johnson ToysAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga


Related Articles (HAS + FNKO)

View Comments and Join the Discussion!

Latest Ratings

IBMWells FargoMaintains140.0
PNCWells FargoMaintains147.0
TWOUDA DavidsonMaintains17.0
IDYAOppenheimerInitiates Coverage On17.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Exposing EUR/USD Weakness After Failing To Rise On Good News

Guggenheim Downgrades Worldpay After Strong Rally