BofA upgraded Estee Lauder to Buy from Neutral with a price target of $170, up from $160. The company currently has a range of initiatives to recovery profitability, sharpen product efficiency, and achieve more balance across channels and geographies, the analyst tells investors in a research note. The firm expects market share growth and operating leverage as Estee reduces its reliance on China and travel retail. It believes the company’s earnings have bottomed.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EL:
- Estee Lauder call volume above normal and directionally bullish
- Clinique named in carcinogen report to ‘damage brand perception,’ says Jefferies
- High Benzene Levels Found in Multiple Brands’ Acne Treatments
- Lab says chemical linked to cancer found in acne creams, Bloomberg reports
- GoodRx upgraded, Fisker downgraded: Wall Street’s top analyst calls