Analyst Linda Bolton Weiser lowered her rating for Hasbro shares to Neutral from Buy Tuesday and trimmed her price target to $53 from $60.
“Signals point to management uncertainty about when the toy business will resume growth,” she wrote in a note to clients.
Bolton Weiser’s downgrade comes a few weeks after the toy maker cut nearly 20% of its workforce, citing weaker-than-expected toy sales in 2023 that will carry into 2024.
https://www.barrons.com/articles/hasbro-downgrade-3d1a5316