Hasbro's (HAS) 2026 revenue guidance has room for upside despite tariff impact, Exodus marketing costs, and royalty expense in the toy business, UBS said in a Tuesday note.

"FY'26 revenue guide, we believe, leaves room for upside, while operating profit margins are better than expectations," it said.

The report also said its $1 billion authorization could be viewed as a vote of confidence in the sustainability of earnings and path to more than $6 per share.

The note said its revenue guidance for the Wizard segment is in line with UBS expectations of where it would start initial guide.

UBS reiterated its buy rating.

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