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

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

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

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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