Estee Lauder price target raised to $140 from $105 at Argus

Argus raised the firm’s price target on Estee Lauder (EL) to $140 from $105 and keeps a Buy rating on the shares. The company has restored revenue growth and aims to achieve low double-digit-operating margins in the near term, the analyst tells investors in a research note. The firm further notes that in order to attract more customers, new management has increased innovation significantly and is entering such new channels as Amazon Premium Beauty, Sephora, and Ulta.