Goldman Sachs downgraded Estee Lauder to Neutral from Buy with a $145 price target after assuming coverage of the name. The company has been under sizable pressure as a result of its Asia travel retail challenges, which has driven its consecutive guide-downs over the past several quarters, and has negatively impacted investor confidence in the process, the analyst tells investors in a research note. To get more constructive, the firm would like to get more clarity on the pace of recovery in Hainan and to see Estee’s cost savings initiatives begin to bear fruit.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on EL:
- Estée Lauder Issues $650M Senior Notes in Strategic Offering
- Estee Lauder price target raised to $141 from $121 at Barclays
- Estee Lauder price target raised to $131 from $115 at RBC Capital
- Estee Lauder price target raised to $155 from $115 at Telsey Advisory
- Estee Lauder price target raised to $179 from $163 at DA Davidson