Estee Lauder price target lowered to $130 from $180 at Evercore ISI

Evercore ISI lowered the firm’s price target on Estee Lauder to $130 from $180 and keeps an Outperform rating on the shares. Estee’s FY25 guidance assumes China and Asia Travel Retail will remain tough and unlikely to improve from June’s low, notes the analyst, who says this “feels conservative,” but adds that “conservatism is most needed” as the company transitions much of its C-suite, works through a potentially accretive restructuring targeting $1.1B-$1.4B in savings net of reinvestment and accelerates channel diversification.