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Estee Lauder price target lowered to $70 from $76 at Canaccord

Canaccord lowered the firm’s price target on Estee Lauder (EL) to $70 from $76 and keeps a Hold rating on the shares. The firm noted they were able to beat on adjusted earnings but said the business is still facing underlying weaknesses in key areas including travel retail and with some mega brands.

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