UPDATE: Stifel Upgrades Mattel Inc. (MAT) to Buy

February 24, 2022 4:15 AM EST
Get Alerts MAT Hot Sheet
Price: $17.88 --0%

Rating Summary:
    15 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 11 | New: 14
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(Updated - February 24, 2022 4:35 AM EST)

Stifel analyst Drew E. Crum upgraded Mattel Inc. (NASDAQ: MAT) from Hold to Buy with a price target of $33.00 (from $27.00).

The analyst comments "We are raising our investment rating on the shares of Mattel from Hold to Buy, with a $33/share target price objective. The basis for our upgrade reflects increasing confidence around the company's ability to meet or exceed its intermediate-term goals (through '23). This is underpinned by several initiatives to drive sales growth, while leverage/mix/cost savings should yield further margin gains and improving cash flow generation. And if accurate with our assumptions, the financial profile of the business would resemble 2012-'13, a period in which MAT traded at $40+/share, suggesting meaningful potential upside from current levels."

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 $23.92 yesterday.

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