Mattel: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded Mattel shares from 'hold' to 'buy', with a target price raised by 40% from $20 to $28, following a strong quarterly publication, accompanied by a positive sales growth forecast for 2025.
NB: pmt +12%.

Mattel should benefit from the expansion of its entertainment offering, wider distribution and new collaborations, enabling the franchise to grow as much as, and potentially more than, the 3.5% increase in the toy market, the broker says.

Jefferies also believes that the company's return to growth could lead to a re-rating of its shares towards its five-year average EV/EBITDA multiple of 9x (vs. 7x at present).


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