Mattel, Inc. (MAT) shares rallied on Thursday after the toy giant delivered a solid third-quarter earnings report, beating on earnings but missing on revenue. While analysts are encouraged by the company’s performance, concerns remain about the fourth quarter and beyond, leading to mixed reactions from analysts and adjustments to price targets.
JPMorgan analyst Christopher Horvers has shared insights into the upcoming third-quarter earnings reports for Mattel and Hasbro. Horvers highlights Mattel’s success in expanding shelf space, driven by Barbie’s 65th anniversary and new releases, while acknowledging potential challenges like consumer spending and the upcoming holiday season. For Hasbro, he expects strong performance due to new releases and improved innovation, particularly for Transformers, Beyblade, and Magic brands. Despite some concerns, JPMorgan maintains a positive outlook for both companies, raising price targets for both Mattel and Hasbro.
