Mattel price target lowered to $18 from $19 at Wells Fargo

Wells Fargo lowered the firm’s price target on Mattel (MAT) to $18 from $19 and keeps an Overweight rating on the shares. A Q1 top-line beat was encouraging, but a sizable margin miss, open questions around guidance, and mixed messaging on Q2 left more than enough to pick at, the firm says. Wells highlights sentiment “as poor as ever” and says it sees plenty of shots on goal ahead at trough multiple.