B. Riley lowered the firm’s price target on Estee Lauder (EL) to $60 from $70 and keeps a Neutral rating on the shares. The firm says the company fiscal Q3 results ahead of expectations and it is encouraged by Estee’s improvements in retail sales trends, particularly in the U.S., which saw market share trends inflect positively. However, travel retail continues to weigh on results, the analyst tells investors in a research note.
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