Goldman Sachs upgraded HAS to "buy" from "hold"
Toy stock Hasbro Inc (NASDAQ:HAS) is trading at two-year highs today, last seen up 3.6% at $76.48, after an upgrade from Goldman Sachs to "buy" from "neutral." The firm also lifted its price target to $85 from $66, citing strength in the company's Wizards of the Coast unit (which includes Dungeons and Dragons and Magic: The Gathering) and a resilient core toy business.
On the charts, HAS has been chopping higher since its April 9, 52-week low of $49.00, recently finding support at the 20-day moving average. Fresh off its fourth-straight weekly gain to end the first half of the year, the equity is up 36.8% year-to-date.
Today's bull note has Goldman Sachs joining the bullish majority, as all but one of the 14 analysts in coverage now carry a "buy" or better rating. There could be some space for price-target hikes still, as the 12-month consensus price target of $79.04 is just a chip-shot away from current levels.
Options traders have been more bullish than usual as well. HAS' 10-day call/put volume ratio of 3.32 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 73% of readings from the past year.
Hasbro's options prices are reasonable at the moment, too, per its Schaeffer's Volatility Index (SVI) of 25%, which ranks in the low 8th percentile of its annual range.