Needham & Company Maintains a 'Strong Buy' on Mattel (MAT); Notes From Investor Meetings
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Price: $15.03 +1.01%
Rating Summary:
14 Buy, 11 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 11 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Strong Buy' on Mattel Inc. (NASDAQ: MAT) price target of $20.00.
Needham analyst says, "In our view, the key takeaways were: 1) Mattel’s big global brands are enjoying momentum, and should allow the company to do well even if retailers and consumers are generally more cautious this holiday season; 2) MAT continues to expect to achieve $150 mm in cost savings by 2012, with half of that coming from lower legal spending, despite the recent adverse decision in the case vs. MGA; and 3) Management continues to target gross margins of at least 50%, operating margins of 15% to 20%, a dividend payout ratio of 50% to 60%, and disciplined cash deployment on share buybacks and acquisitions."
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 $26.69 yesterday.
Needham analyst says, "In our view, the key takeaways were: 1) Mattel’s big global brands are enjoying momentum, and should allow the company to do well even if retailers and consumers are generally more cautious this holiday season; 2) MAT continues to expect to achieve $150 mm in cost savings by 2012, with half of that coming from lower legal spending, despite the recent adverse decision in the case vs. MGA; and 3) Management continues to target gross margins of at least 50%, operating margins of 15% to 20%, a dividend payout ratio of 50% to 60%, and disciplined cash deployment on share buybacks and acquisitions."
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 $26.69 yesterday.
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