Estee Lauder price target raised to $90 from $60 at Wells Fargo

Wells Fargo raised the firm’s price target on Estee Lauder (EL) to $90 from $60 and keeps an Equal Weight rating on the shares. The firm is aggregating models across Beverage/Food/HPC and updating price targets. Wells believes Estee Lauder is beginning to see stabilization/improvement in China, which has been its core issue in recent years, and can begin to recover earnings.