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.

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