Mattel price target lowered to $20 from $22 at Roth Capital

Roth Capital analyst Eric Handler lowered the firm’s price target on Mattel (MAT) to $20 from $22 and keeps a Neutral rating on the shares. The company’s Q3 results were short of estimates, but the management kept its full-year guidance unchanged, and while Mattel is confident in its outlook, there are a number of doubts among investors toward achieving mid-teens net sales growth in Q4, the analyst tells investors in a research note. The stock remains inexpensive but the firm needs to see a clearer path for consistent top-line growth to take a more constructive view, Roth added.