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Hasbro Inc (NASDAQ: HAS) has been a disappointment for shareholders this year but that will radically change over the next twelve months, says Andrew Uerkwitz – a Jefferies analyst.
Hasbro stock has upside to $75
On Tuesday, Uerkwitz recommended investing in the multinational toy company today as it had upside to $75 – up a whopping 50% from here.
The analyst likes Hasbro stock primarily on “Magic: The Gathering” – a card game that appeals not just to the die-hard fans but to novice players as well.
Now a $1.0 billion brand, [Wizards of the Coast] has effectively segmented MTG players and increased products output to better match the ways consumers engage with cards and their willingness to spend.
The stock market news arrives only days ahead of Hasbro’s Q1 results. Consensus is for it to earn 7 cents a share this quarter versus 57 cents per share a year ago.
Hasbro stock pays a lucrative dividend
Uerkwitz is convinced that the said card game will continue to drive growth and increase per player spending moving forward. His research note also reads:
Expanding Magic: The Gathering’s media presence with TV, video games, and social media content creators are ways we expect WOTC to increase touch-points with both new and returning consumer.
Those interested in buying Hasbro stock today should also know that it currently pays an exciting dividend yield of 5.49%.
Last week, Darren Throop said he wanted to buy back Entertainment One – the company’s TV and film business he sold to Hasbro in 2019.
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