Piper Jaffray Analyst Maintains Neutral Rating on Mattel, Inc (MAT)

Piper Jaffray analyst, Stephanie Wissink, increases her price target on Mattel, Inc. (NASDAQ: MAT) and maintains a Neutral rating following the company’s Q2 results.

Wissink explains, “Should shares trade higher post-quarter, we would recommend trading oriented investors take profits and reduce exposure into what we see as a more challenging 2H. We are optimistic that the company can grow into 2017 and as such, maintain a more balanced view out 12 months.”

The analyst notes that she recognizes that competitive intensity could elevate the cost profile of the company and cause a reduced outlook surrounding gross margins.

Wissink raised FY16 EPS from $1.20 to $1.22 and FY17 EPS from $1.52 to $1.56.

According to TipRanks, Stephanie Wissink is ranked #336 of 4,073 analysts and maintains a success rate of 67% with an average return of 8.1%.

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