Hasbro, Inc. (NASDAQ:HAS) stock is up 1.2% before the bell, after Bank of America upgraded to "buy" from "neutral" and hiked its price target to $80 from $70. In its bull note, the analysts said the toymaker's earnings could see a rebound in 2024 and 2025 due to its digital gaming strategy.
Thanks to a post-earnings bull gap of 11.4% on April 24, Hasbro stock touched a nearly seven-month high of $66.38 and sports a 6.3% year-over-year lead. The shares have since suffered a 12.5% correction, though there's chart support at their 80-day moving average and longer-term 320-day trendline.
A short-term bounce may have already been in the cards, considering, HAS sits on the cusp in "oversold" territory, per last night's closing14-day Relative Strength Index (RSI) of 33.
For options traders that want to bet on that unwinding of pessimism, premium is fairly priced at the moment. The stock's Schaeffer's Volatility Index (SVI) of 23% sits in the 4th percentile of its annual range, indicating options players are pricing in low volatility expectations for HAS.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2024 and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
