Why Shares of Mattel Bounced Back Today
Shares of toy maker Mattel (NASDAQ: MAT) surged on Monday, erasing the loss suffered last week following the company's disastrous third quarter. Speculation about a possible takeover seems to be the main driver. The stock was up about 11.5% at 3:45 p.m. EDT.
A report from Gerrick Johnson, an analyst at BMO Capital Markets, suggested that Mattel could be a takeover target after its dismal results. Mattel's third-quarter earnings report featured a double-digit revenue decline, a steep drop in earnings, and the suspension of the dividend. The Toys R Us bankruptcy was a major headwind, but Mattel has been facing weak demand for its core brands for years.
Image source: Mattel.
Source: Fool.com
Mattel Inc. Stock
€12.51
-1.970%
With 13 Buy predictions and not the single Sell prediction the community is currently very high on Mattel Inc..
With a target price of 16 € there is a positive potential of 27.94% for Mattel Inc. compared to the current price of 12.51 €.
