Estee Lauder price target lowered to $70 from $95 at TD Cowen
The Fly

Estee Lauder price target lowered to $70 from $95 at TD Cowen

TD Cowen lowered the firm’s price target on Estee Lauder (EL) to $70 from $95 and keeps a Hold rating on the shares. The firm said the company shouldn’t focus on growth for growth’s sake but instead focus on quality growth; meaning full price selling to a stable long-term customer base. The new CEO may need to re-base revenues lower before growing especially with respect to rethinking the Travel Retail segment.

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