Toy maker Mattel, Inc. (MAT) on Wednesday caught some continued bullish sentiment from analysts at Sterne Agee.
The firm reiterated its “Buy” rating and $30 price target on MAT, which suggests a 23% upside to the stock’s Tuesday closing price of $30.78.
A Sterne Agee commented, “We believe MAT is well positioned to weather soft macro conditions domestically and abroad, as toys are more recession resistant than other categories within consumer. A strong product line and benefits from the recent HIT Entertainment acquisition bode well for forward results. MAT will soon enter 20% of the industry where it has had limited participation via licensing.”
Mattel shares rose 47 cents, or +1.5%, in morning trading Wednesday.
The Bottom Line
We began recommending shares of Mattel (MAT) back on Jan.31, 2012, when the stock was trading at $29.53. The company has a 4.03% dividend yield, based on last night’s closing stock price of $30.78.
Mattel, Inc. (MAT) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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