It's the summer of Barbie. But can the same be said for Mattel shares? Such is the question analysts on Wall Street have been contemplating in the runup to this weekend's highly anticipated release of Warner Bros. Discovery 's movie based on the iconic doll. There's a lot at stake for Mattel, as the toymaker attempts to prove it has a Disney -like ability to turn its intellectual property into a sales-boosting powerhouse. There are clear signs of a rising, hot-pink tide.
"MAT's 2023 guidance already builds in a 'hockey stick' sales recovery in 2H23, and we don't have visibility on what could cause MAT to greatly exceed the guidance, therefore we are not super pounding the table here on the stock," she said. "But our long-term thesis is unchanged, in that MAT has much opportunity to unleash the value of its IP." Shares of Warner Bros. Discovery, the parent of the studio behind "Barbie," are up 38% this year.