Jefferies Lifts Numbers On Mattel (MAT) Following Q2 Results
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Price: $46.65 +1.04%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade MAT Now!
Jefferies raised estimates and its price target on Buy-rated Mattel Inc. (NASDAQ: MAT) from $31 to $33 following recent Q2 results.
The firm states, "We are raising estimates on Mattel as top-line momentum in 2Q translated to material EPS upside. Selling and administrative leverage was strong as legal costs abated in the quarter and early success of its second-generation cost cutting program was seen. Several top line drivers for the 2H look to be in place, while April pricing actions look sufficient to preserve margins at this point."
FY11 EPS goes from $2.05 to $2.16, FY12 goes from $2.30 to $2.40.
For more ratings news on Mattel Inc. click here and for the rating history of Mattel Inc. click here.
Shares of Mattel Inc. closed at $27.02 yesterday, with a 52 week range of $20.57-$28.49.
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The firm states, "We are raising estimates on Mattel as top-line momentum in 2Q translated to material EPS upside. Selling and administrative leverage was strong as legal costs abated in the quarter and early success of its second-generation cost cutting program was seen. Several top line drivers for the 2H look to be in place, while April pricing actions look sufficient to preserve margins at this point."
FY11 EPS goes from $2.05 to $2.16, FY12 goes from $2.30 to $2.40.
For more ratings news on Mattel Inc. click here and for the rating history of Mattel Inc. click here.
Shares of Mattel Inc. closed at $27.02 yesterday, with a 52 week range of $20.57-$28.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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