Mattel price target raised to $22 from $21 at Morgan Stanley

Morgan Stanley analyst Megan Alexander raised the firm’s price target on Mattel (MAT) to $22 from $21 and keeps an Equal Weight rating on the shares. “Strong” Q3 upside was “somewhat overshadowed” by Q4 EPS that was implied well below expectations based on full-year guidance, the analyst tells investors. While the guidance “could prove conservative,” it is too early to tell with the most important selling weeks ahead amid a shorter holiday season, impending election and ongoing consumer uncertainty, the analyst added.