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How Key Analyst Sees Mattel Soaring in Q4

Mattel Inc. (NASDAQ: MAT) reported its third-quarter earnings after the markets closed on Thursday. Sales came in below what one key analyst was expecting, mainly due to a sales shift from the third quarter into the fourth quarter and an adverse foreign exchange (FX) impact. As a result, Oppenheimer maintained its Outperform rating and $27 price target.

Positive trends in many Mattel core brands continue to encourage Oppenheimer that the turnaround is working and an inflection point may be near, which would help fill what it called the princess gap in its report. Reported earnings per share was exactly in line with expectations, and those earnings, excluding one-time items, beat the firm’s...