Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on Estee Lauder to $298 from $290 and keeps an Overweight rating on the shares. The analyst continues to view Estee as a top idea following the Q2 report. While management lowered its outlook for the year, Piper continues to feel confident that once initial reopening headwinds abate in China, the excess inventory gets worked through.
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Read More on EL:
- Estee Lauder price target raised to $305 from $215 at Credit Suisse
- Estee Lauder price target raised to $300 from $290 at Deutsche Bank
- Estee Lauder price target raised to $308 from $250 at DA Davidson
- Estee Lauder sees FY23 adjusted EPS $4.87-$5.02, consensus $5.35
- Estee Lauder sees Q3 adjusted EPS 37c-47c, consensus $1.77