D.A. Davidson downgrades Mattel (NASDAQ:MAT) to Neutral from Buy after the company's uninspiring business update at yesterday's investor day event.
Standing out to analyst Linda Bolton Weiser was the lack of specifics on how Mattel will execute on its strategic plan in the near term.
It also became clear during the talks that Mattel's Thomas & Friends and Mega Blok brands are struggling.
The firm lowers its price target to $24 from $30.
Previously: Mattel volatile after lively investor day (June 14)
MAT -1.13% premarket to $21.90 after a 2.21% drop yesterday.
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