TD Cowen lowered the firm’s price target on Estee Lauder (EL) to $70 from $95 and keeps a Hold rating on the shares. The firm said the company shouldn’t focus on growth for growth’s sake but instead focus on quality growth; meaning full price selling to a stable long-term customer base. The new CEO may need to re-base revenues lower before growing especially with respect to rethinking the Travel Retail segment.
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Read More on EL:
- Estee Lauder price target lowered to $81 from $125 at Stifel
- Estee Lauder price target lowered to $75 from $100 at BofA
- Estee Lauder price target lowered to $75 from $100 at Canaccord
- Estee Lauder downgraded to Neutral from Overweight at JPMorgan
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