Mattel Inc.’s stock rose 11.3 percent Monday after an analyst speculated that the company could be a potential takeover target.
“At this point, we think investors can start looking at other end games, including the possible sale of the company,” BMO Capital’s Gerrick Johnson wrote in a research note.
The report followed the release of Mattel’s weak third quarter earnings last week, in which the company reported a net loss of more than $600 million.
Mattel attributed the weakness to the bankruptcy of toy retailer Toys “R” US Inc. as well as weak demand across its core products such as Barbie, Hot Wheels, Thomas & Friends and Monster High.
Mattel’s stock closed at $15.58 today, the company has lost more than 50 percent of its stock value over a year.
Manufacturing and trade reporter Shwanika Narayan can be reached at email@example.com or 323-556-8351. Follow her on Twitter @shwanika.
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