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Estee Lauder price target lowered to $62 from $70 at Canaccord

Canaccord lowered the firm’s price target on Estee Lauder (EL) to $62 from $70 and keeps a Hold rating on the shares. The firm said the target decrease reflects a lower valaution multiple as they believe increased uncertainty and lack of visibility will continue to pressure the company’s results and valuation.

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