(CercleFinance.com) – Hasbro gained more than 7% in New York, helped by an analysis by Bank of America which raised its price target on the stock from $85 to $90 on Tuesday, while reiterating its buy recommendation.
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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