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)
Historical Stock Chart

1 Month : From Jan 2020 to Feb 2020

Click Here for more Estee Lauder Companies Charts.

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 michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

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

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

Latest EL Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.