UBS upgrades Hasbro on strong sales of 'Frozen II' dolls into Black Friday

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Hasbro showcases the Disney Frozen Play-A-Melody Elsa doll.

Hasbro | AP

As Disney’s “Frozen” stars Elsa and Anna hit the theaters is the hot release of “Frozen II”, toy maker Hasbro is getting a boost during what could have been a tempered Black Friday, according to UBS.

The firm upgraded shares of Hasbro to buy from neutral and kept its $117 price target, about a 20% for the toy maker that closed at $97.23 per share on Friday.

“Our trade checks indicate positive pickup for Hasbro into November, driven by improvement in doll category (Frozen 2 opened in theatres on Nov 22) and action figures, and improving Nerf trends,” said UBS analyst Arpine Kocharyan in a note to clients titled “Warming Up To Frozen.”

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