JPMorgan Lowers Mattel to Underweight, Cuts Price Target Amid 'Investment Year' Strategy
JPMorgan downgraded Mattel Inc. (NASDAQ: MAT) from Neutral to Underweight and sharply reduced its price target to $14 from $23, citing an anticipated "investment year" that will weigh on near-term results. The bank highlighted planned investments of $110 million in digital games and $40 million in performance marketing, ongoing inventory clearance …