Mattel price target lowered to $20 from $21 at Roth MKM

Roth MKM lowered the firm’s price target on Mattel (MAT) to $20 from $21 and keeps a Neutral rating on the shares ahead of its earnings. The company’s Q4 results likely finished roughly in line with projections, but retail ended the year with elevated inventory levels, which could limit Q1 reorders, the analyst tells investors in a research note. Valuation is inexpensive but a perceived lack of meaningful catalysts and clarity towards scaling Entertainment is keeping the firm on the sidelines, Roth MKM added.