Jefferies Raises Price Target on Mattel (MAT) to $37; Reiterates Buy

Jefferies reiterated a Buy rating on Mattel Inc. (NASDAQ: MAT), and raised the price target to $37.00 (from $34.00), ahead of the company's 1Q earnings report. MAT is scheduled to report results on April 20th.

Analyst Trevor Young commented, "Since 4Q reporting in Feb., MAT has outperformed S&P/HAS by 18pp/17pp, respectively, as Barbie/F-P are on the mend and div. worries have begun to abate. MAT's div. yield spread vs. S&P is ~250bps off its peak, but still ~100bps above its L-T average. We believe cutting elevated tooling/other CapEx spend could further support the div. and drive the stock higher. Raising est./PT on +180bps improved FX, Adler design deal, and are +7% ahead of cons. on '16 EPS."

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 $33.08 yesterday.

You May Also Be Interested In

• JPMorgan Starts TIME dotCom Berhad (TDC:MK) at Overweight
• MakeMyTrip (MMYT) PT Raised to $84 at Goldman Sachs
• UBS Downgrades Grand Korea Leisure (114090:KS) to Neutral