Estee Lauder price target raised to $290 from $266 at Deutsche Bank

Deutsche Bank analyst Steve Powers raised the firm’s price target on Estee Lauder to $290 from $266 and keeps a Buy rating on the shares. The analyst expects the company will deliver fiscal Q2 results slightly ahead of its own outlook, mainly owing to less adverse currency trends. The stock is mostly pricing in a downward revision in Street estimates, creating a positive risk/reward at the current levels, the firm tells investors in a research note.