Pouring salt in the wound, SunTrust cuts its price target
What happened
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
So what
Since Feb. 20, the day the stock market really started to fall apart in response to the increasingly clear threat posed by the novel coronavirus, shares of toy maker Mattel ( NASDAQ:MAT) have shed 45% of their value. As of 2:50 pm. EDT, they're down another 14.1%.
Now what
This morning, investment banker SunTrust announced it is cutting its price target on Mattel from $14 (about twice the stock's current price) to just $10.
