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Fly News Breaks for April 24, 2018
HAS
Apr 24, 2018 | 07:29 EDT
Stifel analyst Drew Crum noted that Hasbro reported Q1 earnings and revenue that both came in well below expectations, but his sense is the quarter probably represents the trough and he believes its fundamentals will be "less bad" as the year progresses. Some positives from the report include point-of-sale gains, lower retail inventory exiting the period, and optimism around the Marvel franchise, said Crum. He maintains a Hold rating with a $93 price target on Hasbro, citing his belief that the shares could be range-bound in the near-term.
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