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Upgrade Alert for Mattel (MAT)

By David Diaz

Mattel (NYSE:MAT) was upgraded from Neutral to Buy at MKM Partners today. The stock closed yesterday at $30.30 on volume of 3.1 million shares, below average daily volume of 4.3 million.

Mattel, Inc. designs, manufactures, and markets a broad variety of children's products on a worldwide basis. The Company sells its products to retailers and directly to consumers. Mattel's products include branded fashion dolls, infant and preschool products, toy cars, and electrical vehicles, among others.

Mattel (NYSE:MAT) is currently priced 12.0% above its average consensus analyst price target of $26.67. The stock should find resistance at its 50-day moving average (MA) of $32.60, as well as support at its 200-day MA of $26.90.

In the past 52 weeks, shares of Mattel have traded between a low of $19.45 and a high of $34.76 and closed yesterday at $30.30, which is 56% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mattel on September 14th, 2016 by issuing a Downtrend alert when the shares were trading at $31.38. Since that call, shares of Mattel have fallen 4.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades mattel

Ticker(s): MAT