Hasbro slips as Goldman moves toymaker to sidelines

Funko

01/02/2023 16:10

** Goldman Sachs downgrades Hasbro Inc  HAS.O  to "neutral"
from "buy", sending the toymaker's shares down 1.3% at $58.42
    ** Sets PT at $64, believes HAS can successfully execute
with a robust content slate that includes The Mandalorian,
Indiana Jones, its innovative products including Play-Doh Slime,
Peppa Pig, along with its cost saving initiative
    ** However, Goldman does not expect the company will
increase dividend growth or share repurchases until 2024 at the
earliest due to its over-leveraged balance sheet
    ** Goldman Sachs maintains "buy" rating on Mattel  MAT.O ,
and downgrades Funko Inc  FNKO.O  to "sell" from "neutral",
sending its shares down 4%
    ** Believes MAT is well positioned due to its successful 
relaunch of the Disney Princess and Monster High franchises,
capitalizing on a strong slate of upcoming supporting content
including the Barbie movie
    ** Average rating of 14 brokerages covering HAS is "buy',
median PT $73
    ** MAT shares are down 2.2% in the past 12 months versus a
30% fall in FNKO and a 36% slide in HAS
 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))