Hasbro upgraded to "outperform"

01/11/06 - Piper Jaffray

NEW YORK, January 11 (newratings.com) - Analysts at Piper Jaffray upgrade Hasbro Inc (HAS) from "market perform" to "outperform." The target price has been raised from $18.00 to $24.50.

In a research note published yesterday, the analysts mention that the company has signed a five-year license agreement with Marvel for $205 million, $100 of which would be paid upon the closure of the deal and the rest when the two Spiderman movies are released. The agreement will commence in late-2006 and provide the company with the global rights to Marvel's portfolio of 5000 characters, the analysts say. The Marvel agreement is expected to be accretive to Hasbro’s sales by $300 million, Piper Jaffray adds.