Mattel price target lowered to $16 from $18 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Mattel (MAT) to $16 from $18 and keeps an Equal Weight rating on the shares. The macro environment has dominated the narrative for the firm’s leisure coverage over the past few weeks, notes the analyst, who sees the focus into earnings being whether companies make any changes to fiscal year outlooks to reflect expectations for higher input cost inflation.