Estee Lauder price target lowered to $140 from $150 at TD Cowen

TD Cowen analyst Oliver Chen lowered the firm’s price target on Estee Lauder to $140 from $150 and keeps a Hold rating on the shares. The firm noted the stock pulled back as the 3Q24 EPS beat was driven partly by shifts in shipments and spending and they lowered 4Q24 guide on muted Chinese consumer demand and geopolitical challenges.