Mattel Inc., the toymaker pursuing a comeback under a new chief executive officer, rose the most in almost three years after B. Riley & Co. analyst Linda Bolton Weiser upgraded her rating to a buy.
Even if profit tumbles this year, it’s unlikely that the company will have to cut its $1.52-a-share dividend, Weiser said in a report Monday. She also voiced support for Chris Sinclair, a PepsiCo Inc. executive who was named Mattel’s permanent CEO last week after holding the job on an interim basis since January.
“Sinclair has an impressive background and has said he is focused on a rapid turnaround and has a ‘clear game plan,’” said Weiser, who previously had a neutral rating on the stock.
Mattel shares rose 6 percent to $24 at the close in New York, the biggest one-day gain since July 2012.