Estee Lauder price target lowered to $64 from $71 at Barclays

Barclays analyst Lauren Lieberman lowered the firm’s price target on Estee Lauder (EL) to $64 from $71 and keeps an Equal Weight rating on the shares. The firm says that while it is encouraged to hear management discuss its new strategic vision, the “road ahead will be long,” with revenue likely declining over at least the next two quarters and even longer before growing in-line with the market.