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Non-Tech : MAT - Mattel - toysRthem -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (664)	12/7/2000 2:09:58 PM
From: Neil H	Respond to of 706

Thursday December 7, 12:00 pm Eastern Time RESEARCH ALERT-Merrill raises Mattel to buy NEW YORK (Reuters) - Merrill Lynch said on Thursday that it raised its rating on Mattel Inc. (NYSE:MAT - news), maker of Barbie and Hot Wheels cars, to buy from accumulate and raised the 12-month price target to $18. Mattel's products are performing well during holiday toy sale season, Merrill said. Merrill analyst Hayley Kissell cut 2000 earnings per share estimates to 68 cents from 70 cents for adjusting foreign exchange and higher sales, general and administrative costs. Merrill's 68 cents a share is higher than First Call/Thomson Financial's 67 cents. ``Depressed stock price coupled with good sales trends should enable stock to carry momentum into traditional first quarter upswing period for toy stocks,'' Kissell said in a research note. Changes at the company from new Chief Executive Bob Eckert support a long-term buy recommendation, Kissell said in the research note. Longer-term, Mattel could trade into the $20's as it continues to make progress, Kissell said. Mattel shares closed at $13.72 on Wednesday. The 52-week range is $8-15/16 to $15-1/16