Jefferies Maintains Buy on Mattel

Jefferies is out with its report today on Mattel

, maintaining Buy. In its report, Jefferies writes, "An otherwise solid 3Q release for Mattel was muddied by a complicated but seemingly one-time gross margin item. While the recent move in the US dollar could modestly pressure reported results, solid expense controls and continued momentum across brands and geographies bodes well for the all-important upcoming holiday season." Jefferies maintains a $33 PT on MAT. At the time of posting, shares of MAT were trading at $27.38, down 0.47% from Friday's close.