Bank of America announced on Friday that it had upgraded its recommendation on Hasbro shares from 'neutral' to 'buy', with a price target raised from $70 to $80.

'We do not believe that current consensus forecasts fully take into account the success of Hasbro's digital gaming strategy with Monopoly Go!', explains the broker in a note.

BofA also sees encouraging signs in games and toys, after Costco recently reported that toys topped its non-food sales in April and May, the first time this has happened since last November.

Referring also to the stability of the Magic card business, the broker believes that this positive momentum should continue in fiscal 2025.

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