Hasbro (NASDAQ:HAS) stock could be poised for further gains if Bank of America analysts are right about the toy and game company’s shares.
Bank of America analysts increased their price target for HAS stock from $70 per share to $80 per share today. That’s a potential 38% increase compared to the stock’s prior closing price. It’s also well above the analysts’ consensus estimate of $69 per share for the stock.
In addition, Bank of America analysts also upgraded HAS stock from a “neutral” rating to a “buy” rating today. That roughly matches the analysts’ consensus rating for Hasbro based on 11 opinions.
What’s Behind the Bull Stance on HAS Stock?
Here’s what the Bank of America analysts had to say about Hasbro in a note to clients obtained by Investing.com:
“We do not believe consensus forecasts are fully accounting for the success of HAS’ digital gaming strategy with Monopoly Go!”
On top of that, the analysts continue to see stable performance from the company’s traditional game business. All of this is set to give the company strong growth in 2025.
HAS stock is up 5.3% as of Friday morning.
Investors will want to keep reading for even more of the most recent stock market stories.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
