BofA lowered the firm’s price target on Mattel (MAT) to $22 from $27 and keeps a Buy rating on the shares. After Q1 featured a stronger sales than EPS beat, the firm notes that its new 2026 EPS estimate of $1.34 is near the high end of the company’s outlook. While the firm also expects 23% EPS growth next year for EPS of $1.64, it lowers its price target on a lower multiple given a more mature toy industry that has meaningful competition from other sources.
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