Needham Raises Price Target And Estimates For Hasbro, Inc. (HAS)

Analysts Sean McGowan and Patrick O’ Brien at Needham have released an update on Hasbro, Inc. (NYSE: HAS). The company reported its first-quarter results on Monday.

First-quarter sales reported by the company were higher-than-expected. Excluding the TV venture and a one-time tax adjustment, the company had EPS of $0.30, well ahead of analysts’ estimate of $0.19.

Following the first-quarter results, analysts have raised 2010 EPS estimate to $2.65, 2011 EPS estimate to $3.20 and 2012 EPS estimate to $3.80. The 12-month price target for the company has been raised to $48.

Analysts at Needham have maintained their Buy rating for Hasbro, Inc.