Estee Lauder price target raised to $131 from $115 at RBC Capital

RBC Capital raised the firm’s price target on Estee Lauder to $131 from $115 and keeps a Sector Perform rating on the shares. The company reported a “solid” quarter with a profitability outperformance and a topline beat driven by the EMEA segment, while APAC and Americas struggle, the analyst tells investors in a research note. RBC adds that the expanded Profit Recovery Plan is a positive, given that the restructuring plan should set up Estee Lauder to be a more competitive enterprise.