Estee Lauder price target raised to $164 from $134 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Estee Lauder to $164 from $134 and keeps an Overweight rating on the shares after the company’s Q2 EPS report, which contained “three important points.” Namely, Estee Lauder “surprisingly” kept its fiscal year profit target and beat Q2 EPS on profit upside; the maintained guidance implies high-teens organic sale growth in Q4, signaling strong recovery prospects; and the company provided “much more certainty around its profit recovery program,” the analyst tells investors.