NEW YORK (TheStreet) -- Shares of Hasbro (HAS) - Get Report are up 0.35% to $76.39 in early morning trading on Friday after the toymaker's stock price target was increased to $82 from $78 at BMO Capital Markets.
The firm, which maintained its "market perform" rating, raised its 2016 earnings per share estimate to $3.70 from $3.60 after the company introduced new products at the New York Toy Fair earlier this month.
"We believe the company has a solid 2016 toy lineup and should be able to extend recent momentum into 2016," BMO said in an analysts note this morning. "The toy industry is strong, and we like the steps Hasbro is taking to gain share and grow sales and earnings."
The Pawtucket, RI-based company plans to partner with top entertainment brands and expand into fast-growing emerging markets to boost revenue.
"By building content around it brands, we think Hasbro has figured out how to extend normal toy life cycles, relying less on constant innovation," analysts added. "Entertainment, which used to cause volatility in a toy stock, is now a source of recurring revenue."
Separately, Hasbro has a "buy" rating and a letter grade of A- at TheStreet Ratings because of the company's revenue growth, solid stock price performance, increase in net income, good cash flow from operations and growth in earnings per share.
You can view the full analysis from the report here: HAS
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.