Mattel price target raised to $25 from $22 at BofA

BofA analyst Alexander Perry raised the firm’s price target on Mattel to $25 from $22 and keeps a Buy rating on the shares after having attended a virtual investor presentation with members of Mattel management. Mattel reiterated its 2024 guidance and expects to grow “sales and earnings in 2025,” noted the analyst, who raised the firm’s multiple applied to its calendar year 2024 EPS estimate of $1.40 given its expectation for continued market share gains at retail and benefits as Mattel continues to expand into other Leisure Entertainment verticals.