(News Bulletin 247) – Bank of America announced on Friday that it has raised its opinion on Hasbro shares, raised from ‘underperformance’ to ‘neutral’ with an improved price target from 42 to 63 dollars.
In a research note, the analyst justifies his decision by the quality of the last quarterly results of the American group of games and toys, which according to him testify to the good resistance of the ‘Magic’ franchise.
BofA – which had downgraded the title last November – points out that the strength of this playing card activity was sustained in the first quarter by the success of the ‘Phyrexia’ extension, but also by the undeniable strength of sales of ‘ Modern Horizons 2’ and ‘Warhammer 40K’.
For the intermediary, the objective of annual growth around 15% of the Wizards division – to which Magic belongs – is now credible, especially given the excitement surrounding the releases of ‘Lord of the Rings and Commander ‘ and ‘Baldur’s Gate III’.
He adds that a sale of eOne, the group’s film and television production subsidiary, could be the next upside catalyst for the stock.
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