RBC Capital lowered the firm’s price target on Estee Lauder (EL) to $100 from $131 and keeps an Outperform rating on the shares. The company’s earnings release was “surprisingly poor” as Q1 was essentially in line with estimates, but the management’s Q2 outlook, pulled guidance, and cut in dividend seen as disappointing, the analyst tells investors in a research note. RBC adds however that while it considered its rating, the damage to the stock has already been done and its current price is now “well below fair value”.
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Read More on EL:
- Estee Lauder price target lowered to $70 from $95 at TD Cowen
- Estee Lauder price target lowered to $81 from $125 at Stifel
- Estee Lauder price target lowered to $75 from $100 at BofA
- Estee Lauder price target lowered to $75 from $100 at Canaccord
- Estee Lauder downgraded to Neutral from Overweight at JPMorgan