Toymaker Mattel’s shares were boosted by an analyst at Berenberg, ahead of the company’s first-quarter earnings report.
Berenberg analyst David Beckel raised rating to buy from hold on the shares, while raising his price target to $25 from $14. According to Beckel, Mattel and peer Hasbro have both "come through the pandemic stronger than they entered." Beckel believes that both companies' strategies are unique enough so both can be winners. The analyst has a buy rating on Hasbro as well.
Beckel expects both the toy giants to grow revenue at "a healthy pace" even amidst difficult industrywide comps in 2021.