Barbie Toys 'Flying Off Retail Shelves:' Analyst Lifts Mattel Price Target On Upbeat Q3 Trends After Blockbuster Boost
Portfolio Pulse from Shanthi Rexaline
Mattel, Inc. (NASDAQ:MAT) reported better-than-expected Q2 results, despite a 12% decline in net sales. The company's 2023 guidance aligns with market expectations. DA Davidson analyst Linda Bolton Weiser maintained a Buy rating on Mattel shares and increased the price target from $23 to $25. Weiser noted that Mattel's point of sale was down in Q2, but not worse than the industry's performance. She sees an inflection at the start of Q3, with Barbie toys related to the movie selling out.
July 27, 2023 | 10:54 am
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POSITIVE IMPACT
Mattel's better-than-expected Q2 results and the maintained Buy rating by DA Davidson analyst could positively impact the stock. The increase in the price target from $23 to $25 also indicates a positive outlook.
Despite a 12% decline in net sales, Mattel's Q2 results were better than expected. The company's 2023 guidance aligns with market expectations, which could instill confidence in investors. The maintained Buy rating and increased price target by DA Davidson analyst Linda Bolton Weiser could also positively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100