Mattel price target lowered to $25 from $27 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Mattel to $25 from $27 and keeps an Overweight rating on the shares. Mattel posted a “strong” Q3 beat, but “muted flow-through against a high bar likely disappoints,” the analyst tells investors. However, the firm says the company’s Q4 sale guidance “looks reasonable, if not conservative,” and it continues to see upside to gross margins.