Mattel price target raised to $20 from $19 at Jefferies

Jefferies analyst Kylie Cohu raised the firm’s price target on Mattel to $20 from $19 and keeps a Hold rating on the shares following a change in analyst coverage. The firm reduced expectations for the U.S. toy industry to down 3%, relatively in line with company expectations of down mid-single-digit but below Street’s up 1%, the analyst tells investors in a research note. On the digital transformation, Jefferies continues to recommend buying shares of Hasbro (HAS), and Spin Master (SNMSF), but sees potential demand risk for Mattel (MAT). The firm believes the upcoming year will be a challenging operating environment for Mattel with limited upside catalysts.