Stock Watch: HASBRO takes a hit on "Overvalue" report
Wednesday, August 20th, 2008 3:50pm CDTCategory: Company News
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Analyst Gerrick Johnson of BMO Capital Markets stated in a report that HASBRO shares won't be up to par with what Wall Street anticipations may be.
We think the bar is set high for Hasbro, and while executing well, we worry that macroeconomic headwinds may keep it from achieving the performance the Street may be anticipating.
BMO cut HASBRO shares from hold to sell after the report of them being at overvalue. The twelve month target price of $31.00 is still in affect despite the change in status.
HASBRO shares rose over 45% in the last year, which by comparison, outdid MATTEL, the number one toy manufacturer, which rose by 9% and Jakks Pacific which fell by 4% in the same time frame. At posting time, HASBRO shares were traded at $37.05, down $0.24 or 0.64%.
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