DA Davidson raised the firm’s price target on Estee Lauder to $179 from $163 and keeps a Buy rating on the shares. The analyst cites the company’s Q2 earnings beat and Q3 organic sales growth outlook of 4%-6%, with acceleration to double digit rate expected in Q4. Among the key positives for Estee Lauder are the expected normalized Asia trade inventory by Q3-end, skin care and brick-and-mortar share gain in China, and skin care sales growth in North America for the second quarter in a row, the firm added.
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