Citi raised the firm’s price target on Mattel to $26 from $25 and keeps a Buy rating on the shares. The company’s Q1 beat “takes a bit of pressure off of back half earnings power, which will face difficult comps as we lap the Barbie movie phenomenon,” the analyst tells investors in a research note. The firm says Mattel was able to exceed expectations while under-shipping the channel and in doing so bring retail inventories back to desired levels.
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