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Bank of America Upgrades Hasbro, Predicts Strong Earnings Boost from New 'Magic: The Gathering' Cards

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Bank of America Upgrades Hasbro Stock Ahead of Earnings Report

Hasbro's Dominance in In-Person Gameplay Sector

Bank of America has upgraded Hasbro's stock to buy from neutral and increased its price target to $85, signaling a 37% upside from Friday's close. Analyst Jason Haas predicts that Hasbro will surpass analyst expectations for quarterly results, citing strong demand for the company's "Lord of the Rings" and "Magic: The Gathering" card set. He also mentions the incorporation of third-party intellectual property into the "Magic" universe, which has been well-received by local game stores, distributors, players, and collectors.

Positive Outlook for Quarterly Results

Haas spoke with various industry stakeholders and received encouraging feedback on the new card set. Collector boxes are currently in high demand, with prices exceeding $400 on the secondary market. Online marketplace TCGplayer also reports nearly three times more sell-through than the previous Magic set. Analysts polled by FactSet are forecasting adjusted earnings per share of 56 cents on $1.1 billion in sales for the quarter.

Hasbro Shares Performance

Hasbro shares have only seen a modest increase of 1.6% this year, lagging behind the overall market. However, Bank of America's upgrade and positive outlook for the company's earnings report could provide a boost to the stock. Hasbro has been actively working to incorporate popular intellectual properties into their gaming universe, which has garnered excitement and strong demand from players and collectors alike.

Looking Ahead

As Hasbro continues to innovate and expand its offerings, investors and industry experts will be closely watching the company's earnings report. The incorporation of third-party intellectual property has the potential to drive growth and profitability for the company. With the upgraded stock rating and increased price target, it appears that Bank of America is optimistic about Hasbro's future prospects in the in-person gameplay sector. Investors will be eagerly awaiting the earnings report on Thursday to see if Hasbro can live up to these high expectations.

Conclusion: Potential Implications for a New Business

The upgrade of Hasbro's stock and the positive outlook for its earnings report highlight the continued dominance of the company in the in-person gameplay sector. This development could have significant implications for a new business looking to enter the gaming industry. Firstly, the strong demand for Hasbro's "Lord of the Rings" and "Magic: The Gathering" card set indicates the enduring popularity of in-person gameplay. This trend suggests that there is still a market for physical gaming experiences, despite the rise of digital gaming. For a new business focused on providing in-person gameplay experiences, this presents an opportunity to tap into a loyal and enthusiastic customer base. Additionally, the incorporation of third-party intellectual property into Hasbro's gaming universe has been well-received by players and collectors. This demonstrates the potential benefits of collaborations and partnerships with established intellectual property holders. By leveraging existing popular franchises, a new business can capitalize on the existing fan base and generate excitement and demand for their products or services. Furthermore, the upgrade by Bank of America and the increased price target for Hasbro's stock indicate a positive market sentiment and confidence in the company's future prospects. This suggests that investors and industry experts see potential growth and profitability in the in-person gameplay sector. For a new business seeking investment or partnerships, this aligns with a favorable environment where potential stakeholders may be more willing to support and engage with innovative ventures. In conclusion, Hasbro's recent developments in the in-person gameplay sector may offer valuable insights and opportunities for a new business considering entering this industry. By recognizing the demand for physical gaming experiences, leveraging established intellectual properties, and capitalizing on a positive market sentiment, a new business can position itself for success and growth in this thriving sector. Article First Published at: https://www.cnbc.com/2023/07/31/bank-of-america-upgrades-hasbro-says-new-magic-the-gathering-cards-will-boost-earnings.html

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