"We view this as a low-quality earnings beat, but considering the company's favorable POS trends/retail inventory position/strong entertainment line-up, we've made modest upward revisions to estimates," reads the firm's note.
Stifel moves its price target to just $100 on its view that valuation is rich at 20.6X 2017 EPS. Hasbro traded as high as $104.14 yesterday.
Previously: Hasbro positive post Q1 results (April 24)
Previously: Hasbro passes Mattel in sales (April 24)
Now read: Is Mattel A Good Buy Under $22? »