Mattel price target raised to $20 from $18.25 at Jefferies

Jefferies analyst Kylie Cohu raised the firm’s price target on Mattel (MAT) to $20 from $18.25 and keeps a Hold rating on the shares. Entering the key Q3 selling period for toy makers, the “biggest takeaway from our channel check” is that in-stock levels are “improving nicely at the big box retailers we visited,” the analyst tells investors. Also pointing to stabilizing discretionary spending on goods relative to services and the fact that the names in its coverage gained share on the top toy lists year-over-year as additional “encouraging trends,” the firm is raising Q3 estimates for Mattel and Hasbro (HAS).