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Fly News Breaks for February 28, 2020
HAS
Feb 28, 2020 | 08:33 EDT
MKM Partners analyst Eric Handler lowered the firm's price target on Hasbro to $105 from $125 but keeps a Buy rating on the shares. The analyst attributes the 17% decline in its stock price over the past week to the ongoing fears about toy production in China as a result of coronavirus, but he remains positive on the company's strategic direction with its brands and its accelerating progress toward becoming more of a media driven company. Handler contends that the pullback in Hasbro represents an "oversold situation".