New York, September 18 (FinanceEnquiry.com) – Analysts at Stifel Nicolaus downgrade their rating on the shares of Hasbro Inc (NASDAQ: HAS) from BUY to HOLD. The 12-month target price is set to $40.
In a research note published on September 17, the analysts mention that in opposition to +8 percent for S&P 500, a 20 percent + move has been capped over the last 2 months and on September 14, Hasbro closed at the target price of $40.
In addition to this, a more conservative attitude on the shares of the company has been adopted, even though on the longer-term prospects of Hasbro, positive stance has been carried due to the near-term macro concerns for the industry (retail inventory or Europe or iPad), possible downside risk to the suppositions across select categories (i.e. Games + Girls) and the regular trading patterns displayed by toy stocks ahead of the holidays (relative underperformance), the analysts add further.
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