Estee Lauder price target lowered to $90 from $105 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Estee Lauder (EL) to $90 from $105 and keeps a Market Perform rating on the shares. The company’s Q3 results were “better than expected,” with slightly stronger sales and greater gross margin leverage, the analyst tells investors. While organic sales growth has remained positive for three quarters, geopolitical tensions add uncertainty to consumer spending outlook and media reports of acquisition considerations further complicate the story, the firm adds.