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Monday, October 16, 2006

Mattel initiated with "buy"

Monday, October 16, 2006 2:48:07 AM ET
Wedbush Morgan Securities

NEW YORK, October 16 ( - Analyst Sean McGowan of Wedbush Morgan initiates coverage of Mattel Inc (MAT.NYS) with a "buy" rating.

The 12-month target price is set to $25.In a research note published on October 13, the analyst mentions that Barbie has stabilized and is poised to generate growth from 2007 onwards. Pressures related to commodity costs also seem to have stabilized, the analyst says. Mattel is likely to continue to buyback shares going ahead in view of the company’s robust cash flows and balance sheet, Wedbush Morgan adds.

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