Barbie Boosts Mattel Stocks

The recent release of the "Barbie" movie proved to be a major success at the box office, boosting shares of toy company Mattel. The company's stock rose 1.5% in premarket trading and had already experienced a 17% rally over the past month, outperforming the S&P 500's gains. Analysts credit the euphoria surrounding the movie for the surge in Mattel's stock. According to estimates by Stifel analysts, the "Barbie" movie is expected to bring in approximately $100 million in revenue for Mattel. This revenue includes $75 million from toy sales, $12.5 million from licensing the Barbie brand to other companies, and $11 million in film revenue. Goldman Sachs has also increased its price target on Mattel's shares to $24 from $21, reflecting its confidence in the company's prospects. Mattel, which owns the rights to Barbie and co-produced the movie through its Mattel Films unit, introduced a line of dolls and toys tied to the movie's release and formed numerous brand partnerships with retailers worldwide.