Morgan Stanley Upgrades Mattel
Morgan Stanley upgraded Mattel (MAT ) to strong buy from outperform.
Analyst Brian McGough says he believes Mattel has more growth on the top line through market share gains than he previously gave the company credit for. He raised his 3% long term sales growth estimate to 5%.
He sees EPS of $1.06 in 2002, $1.26 in 2003, and $1.43 2004. He raised his $23 12-18 month price target to $28, generating an implied return of almost 50% from yesterday's close.