JPMorgan lowered the firm’s price target on Estee Lauder (EL) to $98 from $121 and keeps an Overweight rating on the shares. JPMorgan also removed Estee Lauder from its Analyst Focus List ahead of the earnings report. The increased number of announced deals and potential ones reduces the visibility for Estee, the analyst tells investors in a research note. However, the firm believes the stock’s current valuation offers an attractive entry point.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EL:
- Estee Lauder price target lowered to $92 from $120 at Citi
- Estee Lauder price target lowered to $72 from $94 at Barclays
- Estee Lauder price target lowered to $120 from $130 at BofA
- Estée Lauder: Buy Rating on Puig Merger Upside and Strengthening Fundamentals Amid Ongoing Turnaround
- WPP appoints Anne-Isabelle Choueiri as chief transformation officer