Goldman Sachs lowered its price target on Mattel Inc. (NASDAQ: MAT) to $22.00 (from $25.00) while maintaining a Neutral rating.

Analyst Mike Ng is encouraged following the company's investor noting that now the dividend cut overhand has been removed and the company is beginning to reset Wall Street expectations.

FY 2017 EPS estimate falls from $1.18 to $1.02, FY 2018 EPS estimate falls from $1.36 to $1.10 and FY 2019 EPS estimate falls from $1.69 to $1.39.