Stifel analyst Mark Astrachan raised the firm’s price target on Estee Lauder to $295 from $255 and keeps a Buy rating on the shares. While the firm is reducing Q2 and FY23 sales and EPS estimates below consensus as they anticipate sales trends to remain challenged through at least late in fiscal Q3, they lift FY24 EPS estimates "slightly" and raise their price target as they anticipate shares will outperform ahead of improving category dynamics. Stifel anticipates sales and EPS growth to "strongly accelerate into and through" FY24, the firm added.
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Published first on TheFly
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