LPSO Owner Hasbro Sees Share Spike on Upgrade

Stifel Nicolaus analyst Drew Crum said in a note to investors today that Littlest Pet Shop maker Hasbro is slated to see an uptick in upcoming revenues based on a number of toy wins. The analyst upgraded his view of Hasbro shares from Hold to Buy today and sent shares of the company up almost a dollar. The toy co recently launched an online virtual world built around its Littlest Pet Shop brand with game publisher Electronic Arts. The company is also in a joint venture with Discovery Communications and will launch a co-branded cable channel in the fall of 2010. Crum is projecting shares of the toy company to reach $40 over the next 12 months. Hasbro shares were up, to $28.83, in midday trading.