Berenberg analyst Fulvio Cazzol lowered the firm’s price target on Estee Lauder to $224 from $243 and keeps a Buy rating on the shares. The analyst is confident in the beauty industry’s long-term growth prospects and says Estee is well positioned to “gain its fair share of this growth.” Growth trends in mainland China are sequentially improving for the company, while U.S. growth will be partly driven by a marketing pivot towards clinical tests, the analyst tells investors in a research note.
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