Hasbro: MAGIC Strength Increasingly Reflected (Downgrade)

2026-03-02 07:00:00 ET

Shares of Hasbro ( HAS ) have been an excellent performer over the past year, gaining about 50%. Overcoming fears around tariffs, the company’s blockbuster Wizards of the Coast/MAGIC franchise has powered tremendous growth, accelerating deleveraging and allowing the company to shift focus to capital returns. If anything, momentum only seems to be building further, differentiating Hasbro in a mixed consumer discretionary spending environment. I last covered Hasbro in October when I upgraded the stock to a “ B uy,” which was a well-timed call given the 33% rally since then. Given such strong performance and with updated financials, now is a good time to revisit HAS....

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