Citi analyst Filippo Falorni lowered the firm’s price target on Estee Lauder to $165 from $195 and keeps a Neutral rating on the shares. The company delivered a fiscal Q4 beat but all the focus was on the initial fiscal 2024 guidance, which came in well below expectations, the analyst tells investors in a research note. The firm continues to see an uncertain recovery path for Estee Lauder with incremental negative data points on China/Hainan pushing out a sales and earnings recovery.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on EL: