Hasbro price target raised to $88 from $82 at UBS

UBS raised the firm’s price target on Hasbro (HAS) to $88 from $82 and keeps a Buy rating on the shares. The firm cites a “solid” Q2 beat and implied 10% upside to Wizard estimates in the back half of the year for the price target increase. UBS sees further opportunity for gaming business upside in the back half, with multiple inflection for Hasbro driven by underlying earnings outperformance that is less dependent on consumer product business turnaround, the analyst tells investors in a research note.