Shares of toy maker Hasbro  (HAS) - Get Report were up 2% to $103 in morning trading Wednesday after the company was initiated with a "buy" rating and $118 price target by analysts at DA Davidson. 

The price target represents a potential 16% upside from the stock's previous closing price of $100.98. 

Earlier this week the company announced plans to hold its first ever toy convention, highlighting the company's portfolio of products. Hasbro is currently ranked third among toy-makers in the U.S. 

Hasbro stock has been on fire in 2017, rising more than 30% year to date. 

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