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
€17.82
0.230%
Mattel Inc. is currently one of the favorites of our community with 9 Buy predictions and no Sell predictions.
As a result the target price of 24 € shows a positive potential of 34.68% compared to the current price of 17.82 € for Mattel Inc..
