Hasbro (HAS) Reports 8% Surge on MTG and Digital Gaming Momentum

Hasbro (HAS) shares jumped 8% on February 9, 2026, after the company surpassed fourth-quarter profit expectations and issued upbeat 2026 guidance, citing strong momentum in digital gaming led by Wizards of the Coast. Sales for Wizards of the Coast rose 86% year-over-year, with operating margins improving. CEO Chris Cocks emphasized community and authentic in-person connection as drivers of growth, noting Magic: The Gathering’s broad appeal across hobby stores and online. The Street highlights aggressive cost discipline, strong MTG sales, and a robust entertainment slate. Jefferies raised its price target to $120, up 24% from prior levels, amid a flattening toy industry and a pipeline of IP innovations including upcoming Toy Story 5 tie-ins.