11:05 AM EDT, 04/04/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month price target by $6 to $59, based on 18.2x our 2024 EPS estimate and in line with the company's five-year average forward P/E multiple. We maintain our 2024 and 2025 EPS estimates of $3.25 and $3.75, respectively. After a 30% run from its November lows, we believe shares are fairly valued. Consumer Products, the company's largest segment, continues to experience a revenue decline, which HAS expects to continue throughout 2024 and should limit upside to shares from these levels. We continue to like Hasbro's ( HAS ) long-term strategy and its Digital Gaming segment's resilience. However, without all segments contributing to growth, we believe valuation is stuck below its pre-pandemic multiple of 20x forward EPS. Although we believe the company's full-year guidance was conservative, we do not expect significant upward revisions throughout the year as the U.S. consumer continues to deal with multiple headwinds. We move to Hold and see limited upside to shares over the next 12 months.