Goldman's 11 Best Consumer Stocks for 2011
4. Hasbro (HAS) makes toys and operates a kids-focused television channel.
The company preannounced fourth-quarter results. It will provide further detail and disclosure on Feb. 7. Goldman lowered its 2010, 2011 and 2012 earnings per share estimates in reaction to the announcement. It also lowered its price target $3 to $59, still predicting an attractive return of 33% in Hasbro shares. Hasbro missed Goldman's quarterly sales estimate, but the bank is still bullish as it feels that Hasbro has entered a "sweet spot with respect to its entertainment-driven strategy." Hasbro recently launched The Hub television channel and ratings have widely exceeded analysts' initial expectations.
Other analysts are also bullish on Hasbro, with 65% advising clients to purchase shares and 35% saying to hold. Piper Jaffray echoes Goldman's Street-high target of $59. Goldman expects earnings to accelerate during the second quarter, but it expects near-term weakness, resulting from an inventory overhang and a weaker-than-anticipated holiday season, which will likely be evident in first-quarter earnings.
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