Deutsche Bank analyst Steve Powers lowered the firm’s price target on Estee Lauder to $206 from $207 and keeps a Buy rating on the shares. The analyst expects a “difficult set” of Q4 results on August 18 given “still-choppy” trends in China, last quarter’s elevated channel inventory backlog and incremental pressure intra-quarter spurred by authorities cracking down on daigou trade practices in Asia travel retail.
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