UPDATE: Piper Jaffray Initiates Coverage on Mattel at Overweight on Attractive Cash Flows
In a report published on Tuesday, Piper Jaffray analyst Maria Vizuete initiated coverage on Mattel (NASDAQ: MAT) at Overweight with a price target of $53.00.
In the report, Piper Jaffray noted, "The value inherent in the company today is tied in large part to one of the strongest portfolios of brands in the children's products industry and the revenue expansion potential derived from brand permission to extend into other children's products categories and entertainment venues. The company is currently at peak margin, near 18% on a blended basis, having improved significantly from 9% in 2008."
Mattel closed on Monday at $46.17.
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