Barclays Maintains an 'Equalweight' on Mattel (MAT); CEO Transition
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Price: $45.87 -1.67%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade MAT Now!
Barclays maintains an 'Equalweight' on Mattel Inc. (NASDAQ: MAT) price target of $30.00.
Barclays analyst said, "Mattel announced today that Bob Eckert will be stepping down as CEO of Mattel at the end of the year. He will continue to serve as Chairman of the Board through his current one year term (which began in May 2011) and potentially through another term, if elected. Bryan Stockton (the current COO) will become CEO effective January 1, 2012. We believe this leadership transition has been planned since Mr. Stockton's appointment as COO, a position that had not previously existed. The company has not yet announced whether it will appoint a new COO following Mr. Stockton's promotion."
"Given Mr. Stockton's long tenure and strong track record at the company, we believe he will be able to hit the ground running as CEO next year. Mr. Stockton has served as COO of Mattel since January 2011 and was responsible for day-to-day operations across the company, including management of relationships with key customers such as Walmart (NYSE: WMT), Target (NYSE: TGT), and Toys R Us."
For an analyst ratings summary and ratings history on Mattel Inc. click here. For more ratings news on Mattel Inc. click here.
Shares of Mattel Inc. closed at $27.76 yesterday, with a 52 week range of $22.70-$29.40.
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Barclays analyst said, "Mattel announced today that Bob Eckert will be stepping down as CEO of Mattel at the end of the year. He will continue to serve as Chairman of the Board through his current one year term (which began in May 2011) and potentially through another term, if elected. Bryan Stockton (the current COO) will become CEO effective January 1, 2012. We believe this leadership transition has been planned since Mr. Stockton's appointment as COO, a position that had not previously existed. The company has not yet announced whether it will appoint a new COO following Mr. Stockton's promotion."
"Given Mr. Stockton's long tenure and strong track record at the company, we believe he will be able to hit the ground running as CEO next year. Mr. Stockton has served as COO of Mattel since January 2011 and was responsible for day-to-day operations across the company, including management of relationships with key customers such as Walmart (NYSE: WMT), Target (NYSE: TGT), and Toys R Us."
For an analyst ratings summary and ratings history on Mattel Inc. click here. For more ratings news on Mattel Inc. click here.
Shares of Mattel Inc. closed at $27.76 yesterday, with a 52 week range of $22.70-$29.40.
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