Analyst: Don't Buy the Hype on Mattel Stock

Core Viewpoint - Mattel Inc's stock has experienced a decline following the release of the "Barbie" movie, with J.P. Morgan Securities downgrading the stock from "overweight" to "neutral" due to overestimated benefits from the film and anticipated challenges from weak holiday sales and increased freight costs [1] Group 1: Stock Performance - Mattel's stock is down 1.7% in premarket trading after the downgrade [1] - Since reaching a high of $22.64 on July 27, the stock has been on a downward trend, with expectations to erase gains from a recent 4.1% increase [2] - The stock is projected to fall below its year-to-date breakeven point and recent support levels at the 40-day moving average [2] Group 2: Analyst Sentiment - Despite a nearly 11% year-over-year deficit, the majority of analysts remain optimistic, with eight out of eleven rating the stock as a "strong buy" [1] - The 12-month consensus price target for Mattel is set at $22.55, indicating an 18.6% upside potential from the last closing price [1]