Estee Lauder price target lowered to $200 from $243 at Morgan Stanley

Morgan Stanley analyst Dara Mohsenian lowered the firm’s price target on Estee Lauder to $200 from $243 and keeps an Overweight rating on the shares. While the firm is lowering FY24 EPS estimates based on weaker than expected FY24 EPS guidance, it views negative EPS revisions as likely over here and sees an “outsized EPS rebound on the horizon,” the analyst tells investors in a post-earnings note.