Morgan Stanley analyst Megan Alexander Clapp lowered the firm’s price target on Mattel (MAT) to $18 from $22 and keeps an Equal Weight rating on the shares. The firm lowered estimates after a significant Q4 miss and FY26 guidance well below the Street, calling it “an unexpected reset.” While 2026 is framed as an investment year intended to drive accelerated growth in 2027, the firm doesn’t expect the market to ascribe much credit in the near-term, the analyst tells investors.
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