DA Davidson on Wednesday increased its price target for Hasbro (NASDAQ:HAS) to $110.00, up from $80.00, while retaining a Neutral rating on the toy maker's shares. At the time of the update, Hasbro shares were trading at $104.53, up 7.67% over the past week and nearing a 52-week high listed at $105.35.
The firm pointed to Hasbro's fourth-quarter 2025 performance as the catalyst for the target change, describing the results as a "broad based" beat across the company's segments. DA Davidson highlighted strong outcomes on both the top and bottom lines, and noted that Hasbro delivered very healthy gross profit margins of 63.82% on a last-twelve-month basis.
In its commentary, DA Davidson characterized Hasbro's 2026 guidance as appearing conservative. The firm referenced management's outlook for the Wizards of the Coast division to grow in the mid-single digits and for the Consumer Products segment to return to growth. Analysts at DA Davidson expect ongoing momentum in the MAGIC card game franchise, pointing to a slate of seven full set releases planned for the franchise, broader retail distribution and continued player expansion as supportive factors.
The brokerage also noted that Hasbro's toy segment should see a tailwind from a strong entertainment schedule and newly secured licensing deals, specifically calling out a recently announced Harry Potter partnership as an incremental opportunity for product and retail activity.
Separately, Hasbro's reported results for the fourth quarter of 2025 beat Street expectations. The company posted earnings per share of $1.51, well ahead of a consensus forecast of $0.95. Quarterly revenue was $1.5 billion, above the anticipated $1.26 billion. These results have prompted positive reactions from investors and led other firms to update their outlooks.
Among those updates, Morgan Stanley raised its price target on Hasbro to $119 from $103 and maintained an Overweight rating. Morgan Stanley's note emphasized what it views as the durability of Hasbro's growth profile, suggesting that aspect is underappreciated by the market.
Taken together, the analyst revisions and the company's quarter point to renewed investor interest in Hasbro's combination of gaming IP, consumer products and entertainment-linked toy sales, with margins and product cadence cited as key drivers.