Hasbro's (HAS) expected launch of the "Exodus" and "Dungeons & Dragons: Warlock" video games in 2027 is positive for the stock in the near term, Morgan Stanley said Friday in a report.

The firm previously modeled "Exodus" as a sizable earnings headwind in 2026 due to its significant budget, expected launch-year marketing costs, and limited revenue visibility for a new intellectual property. Shifting the release into 2027 removes that drag, the report said.

The delay does not alter the company's long-term digital strategy and eases near-term earnings pressure, the report said.

Morgan Stanley said addition of a title from the "commercially durable" Dungeons & Dragons franchise improves earnings visibility and creates a more balanced and potentially higher-quality lineup, even as normal execution risks persist.

The firm raised its earnings forecasts for Hasbro to $5.62 a share in 2026 from $5.29 and to $5.96 from $5.85 in 2027.

Morgan Stanley boosted its price target on Hasbro stock to $94 from $87 and maintained its overweight rating.

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