Wells Fargo Starts Coverage of Hasbro (HAS), Sees Balanced Risk and Reward

Wells Fargo has initiated coverage of Hasbro (HAS) with an Equal Weight rating and a $98 price target, stating that risk and reward are balanced. Despite challenges in the toy industry and market share loss, Hasbro’s CEO Chris Cocks highlighted significant growth in Q4 2025 revenue and operating profit, driven by its “Playing to Win” strategy and strong performance in segments like Wizards of the Coast. The company also announced new licensing partnerships, including with Harry Potter, Voltron, and Street Fighter, expected to launch in late 2026 and 2027.