Hasbro upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded Hasbro (HAS) to Buy from Neutral with a price target of $85, up from $66. The company is well-positioned to exceed consensus expectations in 2026 and beyond across revenue, Adjusted EBITDA, and free cash flow driven by robust demand for Magic: The Gathering’s new Universes Beyond sets, execution against the company’s new self-published digital gaming strategy, and better-than-feared performance from the toy business as tariff relief, market share growth, and pricing levers insulate segment profitability, the analyst tells investors in a research note. Hasbro also benefits from a portfolio of strong IP and from one of the most flexible and strongest supply chains in the toy industry, the firm added.