MKM Partners Upgrades Mattel Inc. (MAT) to Buy, Sees Above-Average Growth

MKM Partners upgraded Mattel Inc. (NASDAQ: MAT) from Neutral to Buy with a price target of $41.00 (from $38.00).

The firm comments, "We anticipate above-average growth in 2013 and believe there are several product initiatives not sufficiently reflected in consensus expectations. Mattel appears well set up in 2013 to exceed its long-term financial targets for mid-single-digit revenue growth and 6%-8% operating income growth. Key potential upside drivers include: (1) Thomas the Train; (2) Disney – Sofia the First and Planes; and (3) Max Steel. Accordingly, we believe consensus 2013E EPS of $2.79 is too low. In addition, a likely double-digit dividend increase (pushing the dividend yield closer to 4%) and accelerated buyback activity should also aid returns."

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 $35.70 yesterday.

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