Hasbro, Inc. (HAS) 'Has Been Up Ridiculously,' Says Jim Cramer
Hasbro, Inc. (NASDAQ:HAS) is an American toy company that owns iconic brands such as Nerf and Monopoly. The firm's shares have gained 37% year-to-date and have recovered all of their post-Liberation Day losses. Hasbro, Inc. (NASDAQ:HAS)'s stock jumped by 14.6% in April after the firm's first-quarter earnings results beat analyst revenue and EPS estimates. The stock has gained 5% in July after a bullish Goldman Sachs investor note increased the share price target to $85 and upgraded the rating from Neutral to Buy. The bank believes that Hasbro, Inc. (NASDAQ:HAS)'s card and video game initiatives can generate tailwinds for the firm. In his remarks, Cramer mentioned Goldman's coverage and added that Hasbro, Inc. (NASDAQ:HAS) is part of an idea-driven market:
'So Goldman recommends Hasbro, which has been up ridiculously. And it goes up another two! We are in an idea-driven market. . .'
A child playing with their toy in their home, showing their joy for Hasbro products.
Previously, the CNBC host had Hasbro, Inc. (NASDAQ:HAS)'s CEO on his show and discussed the firm's business approach in today's environment:
'What do you make of what's happening at Hasbro, the iconic maker of toys and games? Last week, the company reported an impressive top and bottom line beat driven by strong momentum in their Magic the Gathering business. But management also noted that the tariffs are tough for their business, even if there are some things they can do to mitigate the damage. In response, the stock jumped more than 14% and it's just related a few more points. So, can it keep running? Maybe investors should get cautious. […]
[Talking directly to the CEO, Chris Cox] I got a feeling that you'll be able to- you'll be more resourceful and you're a conservative guy. You got credit for being conservative. The companies that are being aggressive, they're the ones whose stocks are getting killed. I think you're doing this exactly right.'
While we acknowledge the potential of HAS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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