Jefferies Lifts Numbers On Mattel (MAT) Following Q2 Results

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Snowflake Inc. (SNOW) PT Raised to $310 at Jefferies
• BMO Capital Starts LB Pharmaceuticals Inc (LBRX) at Outperform
• DA Davidson Reiterates Buy Rating on Tractor Supply Company (TSCO) Amid Soft Q2 Expectations