MAT upgraded
Friday, September 21, 2007
Mattel stock was upgraded to "Buy" from "Neutral" and set a $30 price target today by an analyst “Linda Bolton Weiser” citing that Mattel 2008 product line up is strong and that recall-related bad news is now in the past. She believes lower sales growth in the second half of the year is already priced into the stock, and a number of catalysts for share price growth lie ahead and she expects that operating margin expansion and double-digit earnings growth in 2008. Looking at the technical chart with today price in action, stock is trading in a Bearish Market with its 50 dma below 200 dma, however recovering from the lows at $21 made this month. Finally MACD back again above 0 and RSI is in Bullish territory, however I want to see stock above $25 to have a clear decisoin on the Bull side, until that I prefer stay away. Keep an eye on MAT for a possible close the key value in the sessions ahead.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: MAT
