Estee Lauder price target lowered to $60 from $65 at Berenberg

Berenberg lowered the firm’s price target on Estee Lauder (EL) to $60 from $65 and keeps a Hold rating on the shares. The firm’s analysis, segmented by region and category, projects that the global beauty market will growth by 3.7% in 2025, which is below L’Oreal management’s 4.0%-4.5% expectation. Beyond 2025, Berenberg sees risks from new, younger consumers. Beiersdorf remains Berenberg’s top pick in the sector.