Goldman Sachs analyst Bonnie Herzog lowered the firm’s price target on Estee Lauder (EL) to $67 from $70 and keeps a Neutral rating on the shares. The company reported better-than-expected Q3 results with a sizable EPS beat, though its Americas business missed incoming expectations owing to ongoing retail softness and de-stocking due to subdued consumer sentiment, timing of shipments, and operational issues at certain department stores, the analyst tells investors in a research note.
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