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Mattel upgraded to Buy from Hold at Jefferies

Jefferies upgraded Mattel (MAT) to Buy from Hold with a price target of $28, up from $20. The company reported a strong Q4 print and 2025 guidance of positive sales growth, the analyst tells investors in a research note. The firm says Mattel is set to benefit from expanding its entertainment offering, broader distribution, and new collaborations that set the franchise up to grow in line, and potentially above, the toy market’s 3.5%. It believes the company’s return to growth could re-rate shares back up toward the five-year valuation average of nine-times enterprise value to EBITDA.

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