Mattel Inc. (MAT) PT Raised to $28.50 at DA Davidson on Strong POS Growth Driving Upside
- Wall Street closes lower on weak telecom stocks despite strong retail earnings
- Walmart (WMT) Gains After Crushing Estimates, Analysts Bulled Up on 'Strong Q1 Results'
- Home Depot (HD) Leaps After Topping Q1 Estimates, Analyst Positive
- Tesla (TSLA) Stuck as It Can't Deliver 10,000+ Cars From Its Fremont Factory Amid Supply Chain Issues - Report
- Warren Buffett's Berkshire Hathaway (BRK-A) Now Almost Out of Wells Fargo (WFC), Invests Further into Verizon (VZ) and Kroger (KR), More Selling than Buying Says Analyst
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
DA Davidson analyst Linda Bolton Weiser raised the price target on Mattel Inc. (NASDAQ: MAT) to $28.50 (from $23.00) after the company reported 1Q21 sales +47%, driven by POS growth of >30% and modest retailer restocking. MAT raised its 2021 sales and EBITDA guidance and lowered gross margin guidance by 50bp due to higher cost inflation, but upped its cost savings target.
The analyst maintained a Buy rating, stating "With the combination of strong top-line growth and continuing margin expansion, we think valuation will expand, getting closer to Hasbro's (HAS). We are raising our EV-to-EBITDA target to 13.0x from 11.5x and our PT to $28.50 from $23, based on 13.0x 2022E EBITDA of $926M."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Home Depot (HD) PT Raised to $386 at RBC Capital, Sales Should Be Stronger For Longer
- H&R REIT (HR-U:CN) PT Raised to Cdn$17.50 at TD Securities
- Major Drilling Group (MDI:CN) (MJDLF) PT Raised to Cdn$12 at RBC Capital
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesD.A. Davidson
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!