Mattel (MAT): Turnaround Gaining Traction - Jefferies

Jefferies analyst, Trevor Young, reiterated his Buy rating on shares of Mattel Inc. (NASDAQ: MAT) after the company reported 3Q results.

An $18m (+1%) revenue beat was broad-based, with 8 of 9 sub-segments delivering positive CC growth. AG (+15%) turned sharply positive on Toys "R" Us/Kohls distribution, while Barbie continued its solid momentum (+17% CC vs. +14% YTD). 3Q GM slightly above guidance makes it easier to hit FY targets. Slight (-$0.01) EPS miss not worrisome given high interest expense and fewer adjustments. No change to the price target of $36.

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 $30.62 yesterday.

You May Also Be Interested In

• RBC Capital Downgrades Range Resources (RRC) to Sector Perform
• Stifel Downgrades Caterpillar (CAT) to Hold
• JPMorgan Upgrades Dow Inc. (DOW) to Overweight