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Estee Lauder price target raised to $63 from $56 at Barclays

Barclays analyst Lauren Lieberman raised the firm’s price target on Estee Lauder (EL) to $63 from $56 and keeps an Equal Weight rating on the shares. Less than six months into his tenure, Estee Lauder’s new CEO is “acting with a strong sense of urgency and a greater pulse on the consumer,” the analyst tells investors in a research note. However, the firm believes that over the medium term, consistent sales growth at least in line with peers will be necessary for Estee Lauder to maintain a premium valuation. Barclays believes “the road ahead will be long before Estee Lauder can grow at least in line with the prestige beauty market.”

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