Goldman Sachs upgraded Estee Lauder (EL) to Buy from Neutral with a price target of $115, up from $76. The firm sees a “fundamental inflection” for the company with the business potentially returning to sales growth as soon as the September quarter. This should be followed by a return to double-digit EBIT margins in fiscal 2027 and beyond, the analyst tells investors in a research note. Goldman is more optimistic on the shares citing the attractiveness of the prestige beauty industry and Estee’s stabilizing business trends in its key China market.
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