Estee Lauder Companies (NYSE:EL)
Historical Stock Chart
1 Month : From Jan 2020 to Feb 2020
By Michael Dabaie
Estee Lauder Cos. (EL) shares were down 2.2% to $212.93 in afternoon trading.
Citi lowered its rating on the skin care, makeup, fragrance and hair care products company to Neutral from Buy, but raised its target price to $230 from $223.
Citi said it is raising its target price to reflect a higher market multiple, but upside isn't enough to keep its Buy rating.
"While we are keeping our earnings estimates unchanged today, we now think there may be less room for upside," the Citi note said.
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(END) Dow Jones Newswires
January 22, 2020 14:29 ET (19:29 GMT)
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