Hasbro supply disruption could signal purchase order delays into Q2, says UBS

UBS points out that Aequs, a major Indian producer of engineered plastic parts for consumer goods and toys, revealed that its subsidiary has been told by Hasbro (HAS) it plans to halt new purchase orders. The Master Supply Agreement Hasbro has with the company remains in place, but future business volumes may be affected. The firm emphasizes it is not entirely clear whether Hasbro halting purchase orders has to do with the hacking incident or Hasbro changing suppliers or reducing volume with a particular supplier. UBS notes this is among the first signs of impact from Hasbro hacking incident reported by the company earlier in an 8-k. The firm points out that Hasbro website is still not online, though Wizard side seems relatively unaffected. UBS has a Buy rating on Hasbro with a price target of $110 on the shares.