(MONEY Magazine) – Clad in a pink cocktail dress with iridescent trim, Friendship Barbie, a version of Mattel's 31-year-old superstar, recently made her debut in East Berlin, Budapest and other Central European hotspots. Priced around $5, she won't contribute much to the bottom line. But, says analyst Gary M. Jacobson of Kidder Peabody, who recommends Mattel as a turnaround stock, ''Friendship Barbie shows the company's commitment to international expansion.'' After losing $121 million in 1986 and 1987, Mattel (1989 revenues: $1.2 billion) has made a spectacular comeback by focusing on its well-established toys, led by Disney characters and bestseller Barbie -- half a billion sold since 1969. In addition, the company recently landed the toy-licensing rights to the hit Fox-TV cartoon show The Simpsons and will begin marketing figures of Bart and his family in September. Jacobson thinks the stock, now trading on the NYSE at $22.25, could rise 35% to $30 within 12 months. By 1991, he says, ''Mattel may well surpass Hasbro to become the No. 1 toy company in the world.''