{"id":3761,"date":"2023-10-20T18:12:45","date_gmt":"2023-10-20T18:12:45","guid":{"rendered":"https:\/\/infundpros.com\/markets\/holiday-shopping-season-is-here-why-an-analyst-says-buy-mattel-stock\/"},"modified":"2023-10-20T18:12:46","modified_gmt":"2023-10-20T18:12:46","slug":"holiday-shopping-season-is-here-why-an-analyst-says-buy-mattel-stock","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=3761","title":{"rendered":"Holiday Shopping Season Is Here. Why an Analyst Says Buy Mattel Stock."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000775412\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Mattel<br \/>\n       has catalysts for growth ahead, while competitor<br \/>\n        Hasbro<br \/>\n       has more to prove, according to Citi.<\/p>\n<p>Citi analyst James Hardiman initiated coverage of toy maker<br \/>\n        Mattel<br \/>\n       (ticker: MAT) with a Buy rating and a $26 price target Friday. The stock has risen 15% so far this year, to around $20.50 on Friday.<\/p>\n<div class=\"paywall\">\n<p>Hardiman also started coverage of<br \/>\n        Hasbro<br \/>\n       (HAS) with a Neutral rating and a price target of $62.<br \/>\n        Hasbro<br \/>\n       stock has stumbled 8.3% in 2023, trading just under $56 Friday morning.<\/p>\n<p>The toy industry has faced multiple headwinds, including inventory backups, rising inflation, and a downbeat consumer. Retailers ended up overstocking on toys in 2022, as high prices and weaker-than-expected demand led to a disappointing holiday season. <\/p>\n<p>While there are still risks as the holiday shopping season begins,<br \/>\n        Mattel<br \/>\n       is ready for a turnaround, Hardiman says.<\/p>\n<p>\u201cMattel may have received a spark through the combination of the return of Disney Princess, solid vehicle momentum, and an added lift from the Barbie movie,\u201d he wrote in a research note. <\/p>\n<p>Mattel and<br \/>\n        Walt Disney<br \/>\n       (DIS) reached a licensing deal in January 2022, enabling the toy maker to create and sell Disney princess merchandise. Mattel had lost the license to Hasbro in 2016. Buzz for the <em>Barbie<\/em> movie also has Hardiman bullish on the stock. The film did incredibly well at the box office, and has brought a lot of attention to the famous Mattel doll originally founded in 1959.<\/p>\n<p>\u201cAt a minimum we would expect to see a surge of Barbie sales in the upcoming season and beyond, with what we can only assume will be a Barbie sequel or sequels in coming years,\u201d he said.<\/p>\n<p>Mattel is expected to report third-quarter financial results after the market close on Oct. 25. Investors will be looking for clues on what the success of the <em>Barbie<\/em> movie, licensing deals, and the current state of the consumer mean for the company\u2019s future.<\/p>\n<p>As for Hasbro, Hardiman recommends waiting on the sidelines, noting a relatively new management team. CEO Chris Cocks took the helm in February 2022, and Gina Goetter became CFO this past May.<\/p>\n<p>\u201cFor now, we think a Neutral rating is appropriate as the new(ish) management team continues to get their legs beneath them, particularly given the macro risk and a fickle consumer as we head into the critical holiday season,\u201d the analyst said. <\/p>\n<p>Hasbro announced last year a new plan called \u201cBlueprint 2.0\u201d that switches the company\u2019s focus from toys to becoming a broader entertainment company. Investors likely will want to hear an update on that transformation when the maker of Monopoly reports earnings Oct. 26. <\/p>\n<p>The company\u2019s Wizards of the Coast business is \u201cthe crown jewel of the Hasbro portfolio,\u201d Hardiman wrote. He cites the continued success of games Dungeons and Dragons and Magic the Gathering, as well as the surging popularity of the new videogame, Baldur\u2019s Gate 3.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/mattel-hasbro-stock-price-holiday-shopping-529f5051?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mattel has catalysts for growth ahead, while competitor Hasbro has more to prove, according to Citi. Citi analyst James Hardiman initiated coverage&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-3761","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Holiday Shopping Season Is Here. Why an Analyst Says Buy Mattel Stock. | inFundPros<\/title>\n<meta name=\"description\" content=\"Mattel has catalysts for growth ahead, while competitor Hasbro has more to prove, according to Citi. 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