(CercleFinance.com) – Bank of America raised its price target on Hasbro on Tuesday from $85 to $90, while reiterating its buy recommendation on the stock.
In a note sent to its customers, the American bank highlights the “exceptionally strong” performance of mobile games ‘Monopoly Go’ and ‘Baldur’s Gate 3’, two titles on which Hasbro collects royalties.
According to BofA, these two successes could represent a ‘significant’ contribution to the results of the American group of games and toys by the end of the year and in 2024, thus confirming the validity of its strategy in the digital, continues the New York firm, which believes that investors have so far tended to undervalue the intellectual property portfolio held by the group.
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