Mattel price target raised to $23 from $22 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Mattel (MAT) to $23 from $22 and keeps an Equal Weight rating on the shares. Q4 results were “solid,” and FY25 guidance was also better-than-expected, but the firm notes that while the 2-3% constant currency sales growth forecast was in-line with expectations, it “seems to embed an acceleration in POS and market share performance relative to recent trends,” which the firm calls “difficult to underwrite.”