MKM Partners More Positive on Mattel (MAT), Raises Price Target
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Price: $45.87 --0%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 10
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 10
Trade MAT Now!
MKM Partners reiterated their Buy rating and raised their price target on Buy-rated Mattel Inc. (NASDAQ: MAT) from $41 to $45 based on a positive 2013 outlook.
"Last month's Toy Fair meetings reaffirmed our view that Mattel should see accelerating growth in 2013 and exceed its long-term financial targets of mid-single-digit revenue gains and a 6%-8% increase in operating income," analyst Eric Handler said. "Our revenue and EPS estimates for the year of $6.9bn (+7%) and $2.85 (+31%) remain modestly above consensus expectations."
The firm said TV initiatives should help drive demand for new properties Sophia the First and Max Steel. They are also more optimistic about Barbie's return to growth in 2013 with the global search for a new Dreamhouse campaign.
"We also have greater comfort that Mattel can hold steady at a 53% gross margin," the analyst said.
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 $40.94 yesterday, with a 52 week range of $30.15-$41.43.
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"Last month's Toy Fair meetings reaffirmed our view that Mattel should see accelerating growth in 2013 and exceed its long-term financial targets of mid-single-digit revenue gains and a 6%-8% increase in operating income," analyst Eric Handler said. "Our revenue and EPS estimates for the year of $6.9bn (+7%) and $2.85 (+31%) remain modestly above consensus expectations."
The firm said TV initiatives should help drive demand for new properties Sophia the First and Max Steel. They are also more optimistic about Barbie's return to growth in 2013 with the global search for a new Dreamhouse campaign.
"We also have greater comfort that Mattel can hold steady at a 53% gross margin," the analyst said.
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 $40.94 yesterday, with a 52 week range of $30.15-$41.43.
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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