Citi upgraded Estee Lauder to Buy from Neutral with a price target of $175, up from $160. The analyst believes the company is nearing a saes inflection point as channel inventories in Asia Pacific travel retail are normalizing and Estee Lauder is closer to balanced sell-in/sell-through. The company expanded and accelerated its profit recovery plan for fiscal 2025 and 2026, which “sets a floor on earnings” and allows the market to begin thinking about a path forward to normalized earnings for the company, the analyst tells investors in a research note.
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