Estee Lauder price target raised to $175 from $155 at Stifel

Stifel raised the firm’s price target on Estee Lauder to $175 from $155 and keeps a Buy rating on the shares. The company’s Q2 results were “less bad than feared”, the analyst tells investors in a research note, also citing the management’s updated guidance for accelerating organic sales growth in the second half of the year. Contributing to improving sales trends, the company reiterated expectations that inventories in Asia travel retail will be sufficiently reduced by the end of Q3, so that sell-in and sell-through should normalize, the firm added.