Sorry, Barbie! Mattel Stock Slips on Downgrade

by Christopher Freeburn | April 7, 2014 12:45 pm

Sorry, Barbie! Mattel Stock Slips on Downgrade

Mattel Sorry, Barbie! Mattel Stock Slips on Downgrade[1]On Monday, analysts at BMO Capital Markets lowered their rating[2] for Mattel (MAT[3]) stock. The downgrade sent MAT stock down more than 2% in mid-day trading.

Mattel stock slid after BMO Capital Markets downgraded the toymaker from a prior rating of “Market Perform” to “Underperform.” BMO analysts also cut their price target for Mattel stock from $40 per share, to $33 per share. That is 16% above the Friday closing price of Mattel shares, Zolmax notes.

Last month, Zacks reaffirmed at “Neutral” rating and a $41 price target for Mattel stock.

In March, Mattel agreed to purchase Canadian building block-maker Mega Brands[4] for $460 million.

Mattel stock closed at $39.41 on Friday. Over the past year, Mattel stock has dropped about 8%.

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Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/04/Mattel.jpg
  2. lowered their rating: http://zolmax.com/investing/bmo-capital-markets-downgrades-mattel-to-underperform-mat/241234/
  3. MAT: http://studio-5.financialcontent.com/investplace/quote?Symbol=MAT
  4. purchase Canadian building block-maker Mega Brands: http://investorplace.com/2014/02/watch-lego-mattel-buys-toy-block-maker-mega-brands/#.U0LUVV5hOf0
  5. NY Toy Fair 2014: Five New Toys to Watch: http://investorplace.com/2014/02/ny-toy-fair-2014-new-toys/2/
  6. New Barbie Is an Entrepreneur With a Tablet and a Smartphone: http://investorplace.com/2014/02/new-barbie-mat-mattel/#.U0LVG15hOf0
  7. London Toy Fair Favorites: 5 Top Toys for 2014: http://investorplace.com/2014/01/top-toys-2014-toy-fair-best-toys/

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