10:55 AM EDT, 10/24/2025 (MT Newswires) -- Hasbro's ( HAS ) strategic shift is helping strengthen the company's base business, supported by tailwinds in content, licensing, and its "Magic: The Gathering" product, Morgan Stanley said in a Friday note.

The company's Q3 results were "solid," surpassing expectations, while its Q4 implied raise was "particularly impressive," underpinned by accelerating momentum in both of its key segments, Morgan Stanley analysts said. Hasbro's ( HAS ) Consumer Products and Wizards of the Coast segments are potentially entering a sustained multi-year growth phase, the analysts said.

Supporting the anticipated growth is a strong slate of entertainment projects that will help propel the Consumer Projects segment to growth, an expansion of content-driven partnerships that strengthen Hasbro's ( HAS ) intellectual property ecosystem, and potential incremental licensing opportunities, according to the note.

The analysts also highlighted a robust lineup from Universes Beyond, as well as the ongoing momentum from Magic: The Gathering's backlist catalog, which they believe to be undervalued by the market.

Morgan Stanley reiterated the company's stock rating at overweight and raised the price target to $87 from $85.

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