Mattel attracts bull rating from Stifel with near-term catalysts in play

Feb. 24, 2022 7:56 AM ETMattel, Inc. (MAT)By: Clark Schultz, SA News Editor

Mattel Corporate Headquarters Building

Wolterk/iStock Editorial via Getty Images

Stifel upgraded Mattel (NASDAQ:MAT) to a Buy rating from Hold on its view the toy maker is ready to see strong growth and see margins expand.

Analyst Drew Crum and team pointed to near-term catalysts for Mattel (MAT) such as expectations for a solid Q1, a strong summer film slate, the Monster High reboot and a credit rating upgrade to investment grade.

"We have gained more conviction around the company’s ability to reach its sales targets, based on the following: 1) growth for core brands; 2) a better entertainment line-up; 3) winning back the Disney Princess license; and 4) a stable outlook for the global toy industry."

Stifel boosted its price target to $33 from $27 vs. the average analyst price target of $23.92.

Shares of Mattel (MAT) fell 3.22% in early Thursday trading amid a broad market selloff.

Recommended For You

Comments

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.