JP Morgan Downgrades Mattel to Neutral, Lowers Price Target to $19
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Christopher Horvers downgraded Mattel (NASDAQ:MAT) from Overweight to Neutral and reduced the price target from $24 to $19, indicating a more cautious outlook on the company's stock.
February 05, 2024 | 10:52 am
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JP Morgan downgraded Mattel from Overweight to Neutral and lowered the price target from $24 to $19, suggesting a tempered expectation for the stock's performance.
The downgrade from Overweight to Neutral by a major financial institution like JP Morgan, accompanied by a significant reduction in the price target, typically signals a less optimistic view on the stock's future performance. This can influence investor sentiment and potentially lead to a decrease in stock price in the short term.
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