BUZZ-Mattel gains after brokerages raise PT on smaller-than-expected loss

Reuters04-24

** Toymaker Mattel's shares rise 2.7% to $19.25 premarket

** Company reported smaller-than-expected Q1 loss on Tuesday, benefiting from stringent cost management amid lukewarm demand for its toys

** Citigroup lifts PT on company's shares to $26 from $25, while D.A. Davidson raises PT to $27 from $26

** Mattel is not immune to macroeconomic pressures, has a lackluster movie and innovation slate ahead - Jefferies

** Company's Q1 sales came in at $809.5 mln vs est $831.8 mln - LSEG

** Peer Hasbro reports smaller-than-expected fall in Q1 sales and tops profit expectation, helped by leaner inventories and steady digital gaming revenue

** 10 of 15 brokerages rate Mattel's shares "buy" or higher, 5 "hold"; median PT $23.17

** As of last close, stock down 0.8% YTD

(Reporting by Annett Mary Manoj in Bengaluru)

((AnnettMary.Manoj@thomsonreuters.com))

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