We are upgrading our recommendation on Mattel (MAT) to Outperform from Neutral. Mattel’s fourth quarter earnings were well ahead of the Zacks Consensus Estimate. The better-than-expected results were primarily driven by strong sales of its Barbie dolls and Hot Wheels cars during the holidays.

Mattel has an industry-leading position, a strong balance sheet and continues to experience the benefits of its cost-containment initiatives. Its focus on top-line growth, margin expansion and cash conservation also augur well.

Considering the company’s product line up in 2010, we also expect an improvement in the top line in the upcoming quarters. However, the continuing economic stress will remain a headwind in the near term as the retail environment remains challenging.

Zacks Investment Research

1. (MAT) Mattel Analysts Upgrade to OutperformWe are upgrading our recommendation on the shares of Mattel Inc. (MAT) to Outperform from...
2. (MAT) Mattel Incorporated Beats Expectations as Barbie JumpsMattel Incorporated (MAT) reported fourth quarter earnings of 89 cents per share. Excluding a tax...
3. (MAT) Mattel Incorporated Reports Earnings Almost in LineMattel Incorporated’s (MAT) third quarter earnings of 63 cents per share were just a penny...
4. (MAT) Earnings Preview for Mattel IncorporatedMattel Inc. (MAT) is expected to release its third quarter results on Oct 16. The...
5. (MAT) Did Mattel Manipulate the MGA Probe?Mattel Inc. (MAT) has been accused of manipulating the MGA probe. MGA Entertainment claims Mattel...
6. (MAT) Mattel’s New Doll: Debbie DownerEveryone knows or knows someone who knows a “Debbie Downer.” That acquaintance or friend that...

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