Goldman Sachs Upgrade Gives Toy Maker a Boost

Analysts are mostly bullish toward MAT

Deputy Editor
Jul 11, 2022 at 10:29 AM
facebook twitter linkedin

Mattel Inc (NASDAQ:MAT) is up 1.6% to trade at $23.12 at last check, after Goldman Sachs upgraded the stock to "buy" from "neutral" with a $1 price-target hike to $31. The firm praised the toy maker as a stand-out amid "increasing macroeconomic uncertainty," citing the returning Disney Princess toy license in 2023, new production innovation, and price increases. 

Earlier jumping as high as $23.87 this morning, the shares are struggling with that $24 level, having run up to it in late June as well. The 50-day moving average has also emerged as a stiff ceiling at that level as well. Year-to-date, the equity is up 8%. 

Goldman Sachs is joining an already bullish group of analysts, with six of the eight in coverage calling MAT a "strong buy," coming into today. Plus, the 12-month consensus price target of $32.27 is a 40.3% premium to current levels. 

Meanwhile, short interest represents 5.6% of the stock's available float. In other words, it would take six days to buy back these bearish bets, at MAT's average daily pace of trading. 



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners