NEW YORK (TheStreet) -- Shares of Hasbro Inc. (HAS) are higher by 4.08% to $55.10 in late morning trading on Wednesday, after the toys and games company announced it has entered into a new strategic merchandising agreement with Disney (DIS) .
Hasbro was chosen by Disney Consumer Products to develop dolls for the Disney Princess and "Frozen" franchises.
As part of the agreement Hasbro has the global rights, excluding Japan, beginning in 2016, to develop toys around the Disney Princess stories and characters, including "Beauty and the Beast," "Cinderella," "the Little Mermaid," and "Frozen."
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Toys and dolls based on the hugely popular Disney film "Frozen" are believed to be at the top of kids' wish lists for the 2014 holiday season, as several "Frozen" themed items have made the Adventure Publishing Group's "Toy Insider Hot 20" list, Bloomberg reported.
"Frozen" was released Thanksgiving 2013 and has since earned over $1 billion in global ticket sales, making it the fifth-highest grossing film of all time, Bloomberg added.
Separately, TheStreet Ratings team rates HASBRO INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HASBRO INC (HAS) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."