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Mattel (MAT) Stock Price Target Raised at Jefferies

NEW YORK (TheStreet) -- Mattel's (MAT - Get Report) price target was raised to $37 from $34 at Jefferies on Wednesday. The firm maintained its "buy" rating on the stock.

The toy company will benefit from the appointment of Jonathan Adler as creative director of the Fisher-Price brand. Fisher-Price products, which target younger children, represent 32% of Mattel's sales, according to Jefferies.

"Although it is admittedly challenging to quantify the potential impact, we believe new product could be available in time for holiday 2016 and may help accelerate revenue growth in the brand," the firm added.

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