BNP Sees Hasbro Upside From Magic The Gathering Growth and Margin Expansion
Jun 24, 2026, 2:47 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
A major broker outlook with a specific target and margin thesis can lift near-term sentiment and provide a price catalyst if acknowledged by other investors; similar past upgrades by BNP have moved HAS shares when the thesis is credible.
AI summary
What happened, with direct paths to the underlying reporting
BNP Paribas argues Hasbro’s Magic: The Gathering Universes Beyond is underappreciated, driving higher margins and a growing flywheel. They project about 85% incremental gross margins on Magic and earnings growth through 2026-27, implying the stock’s roughly 10x EBITDA multiple understates the evolving business mix.
BNP bullish on Hasbro; Magic: Universes Beyond fuels growth.
Incremental gross margins on Magic around 85%. Earnings growth seen for 2026-27.
Stock trades near 10x EBITDA. Price target $117.
Marvel and Hobbit releases expand Universes Beyond; potential X-Men tie-ins.
Universe Beyond could attract 20-30% of buyers to future sets.
How to read this signal
Transparent limits for an AI-generated research aid
StockNews.AI groups source reporting, classifies the event, and measures subsequent price movement. This is informational research, not investment advice. Prices may be delayed or unavailable.
Related signals
More source-backed signals connected by company or event
Hasbro posted Q2 revenue of $1.1B, up 16% YoY, led by Wizards and Digital Gaming, driven by Marvel Super Heroes. CEO Chris Cocks framed MTG as a durable earnings driver with a mul…
Hasbro topped earnings estimates with adjusted EPS of $1.28 and revenue of $1.14B, signaling solid demand and margin discipline. The stock surged about 8.6% to $88.62 as investors…
Hasbro boosted its revenue and earnings outlook, citing durable digital gaming demand and continued strength in Magic: The Gathering. The upgrade signals improving fundamentals an…
Hasbro launches Sixth Wall, an AI studio, and unveils Behavioral Licensing with ElevenLabs to monetize iconic characters through AI-enabled experiences. The program will use Chara…