Why Shares of Mattel Jumped Today
Shares of toy maker Mattel (NASDAQ: MAT) jumped on Tuesday, a second day of gains following reports that rival Hasbro (NASDAQ: HAS) had made a takeover offer. Neither company has commented so far, but a report from Fitch Ratings pointing out the benefits of a merger could be responsible for the additional gains. Mattel stock was up about 5% at 11:30 a.m. EST, while shares of Hasbro were down about 1%.
Fitch Ratings expects a merger between Mattel and Hasbro to yield improved negotiating power with major customers like Target, Wal-Mart, and Toys "R" Us. Those three retailers account for about 38% of sales from the two companies. Fitch also made the point that Mattel and Hasbro are strong in different areas, Mattel with girls and Hasbro with boys.
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Source: Fool.com
Mattel Inc. Stock
With 8 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 24 € there is a positive potential of 49.16% for Mattel Inc. compared to the current price of 16.09 €.
