Hasbro (HAS) - Get Report  , owner of such iconic brands as Monopoly, Play-Doh and Transformers, was climbing 3% to $99.02 Monday after a UBS analyst upgraded shares of the toy and entertainment company to buy from neutral with a $117 price target.

UBS analyst Arpine Kocharyan said that expectations for the Pawtucket, Rhode Island-based company have seen a "meaningful reset" after weak third-quarter results. He sees upside in the stock due to better-than-expected revenue and cost synergies from its acquisition of Entertainment One, momentum in its gaming portfolio. and doll sales after Disney's

(DIS) - Get Report

"Frozen 2" opened in theaters Friday.

"The stock appears to be pricing in a lackluster holiday season, combined with further tariff disruption and no upside to $130 million of initial synergy guide," he said. However, Kocharyan also said his point-of-sales checks indicate a fourth-quarter pickup.

In August, Hasbro said it was acquiring Entertainment One  (ENTMF) for $4 billion in cash. Entertainment One is a U.K.-based content provider responsible for Peppa Pig and other video and film properties.

Last week, the UK's Competition and Markets Authority said it had launched a review of the proposed acquisition. Hasbro said it still expects to close the deal no later than the first quarter of 2020.

Last month, Hasbro posted weaker-than-expected third-quarter earnings , saying that tariffs linked to the U.S.-China trade dispute clipped sales to retailers. Adjusted earnings were $1.84 a share, down 4.6% from the same period in 2018 and well shy of the Wall Street consensus forecast of $2.21. Revenue was largely flat from a year earlier at $1.58 billion, but again missed analysts' estimates of $1.71 billion.