Estee Lauder Shares Down; Citi Cuts to Neutral, But Raises Target Price

Date : 01/22/2020 @ 7:44PM
Source : Dow Jones News
Stock : Estee Lauder Companies Inc (EL)
Quote : 211.32  -1.8 (-0.84%) @ 1:00AM
After Hours
Last Trade
Last $ 211.32 ◊ 0.00 (0.00%)

Estee Lauder Shares Down; Citi Cuts to Neutral, But Raises Target Price

Estee Lauder Companies (NYSE:EL)
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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.


Write to Michael Dabaie at


(END) Dow Jones Newswires

January 22, 2020 14:29 ET (19:29 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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