Hasbro Gains After Goldman Sachs Upgrade, Casino Licensing Partnerships

Hasbro (HAS) shares rose 4.3% on Tuesday, and retail investors turned bullish after the toy maker received a rating upgrade from Goldman Sachs and announced a slew of new licensing partnerships.

Goldman Sachs upgraded its rating to 'Buy' from 'Neutral' late Monday, saying that Hasbro's new intellectual property-focused strategy and the recent lowering of U.S. tariffs make the case for better-than-feared business performance.

The research firm bumped the price target to $85 from $66. The current target indicates a 14% upside from the current levels. HAS shares are up 37.7% year-to-date.

Separately, Hasbro on Tuesday announced multi-year licensing partnerships with Aristocrat Technologies, Evolution (EVVTY), Galaxy Gaming, and Bally's for casino licensing. Under the agreements, each of Hasbro's new partners will work on products that leverage Hasbro's IPs.

"These visionary new partners have the expertise and imagination to reimagine our brands in bold, exciting ways for adult audiences," said Claire Hunter Gregson, a director for gaming relationships at Hasbro. The company already has a similar licensing deal with SciPlay.

On Stocktwits, the retail sentiment shifted to 'bullish' as of early Wednesday from 'bearish.'

A user referred to one of the partnerships as a "money printing machine."

The company said in a press release that the move aligns with its "Playing to Win" strategy, which it announced in February 2025. Under this initiative, the company is focusing on franchises, IP-driven ventures, and achieving cost savings.

For updates and corrections, email newsroom[at]stocktwits[dot]com.