tiprankstipranks
Estee Lauder price target lowered to $75 from $100 at Canaccord
The Fly

Estee Lauder price target lowered to $75 from $100 at Canaccord

Canaccord analyst Susan Anderson lowered the firm’s price target on Estee Lauder (EL) to $75 from $100 and keeps a Hold rating on the shares. The firm said their Q1 results fell short as trends in the key China and Asia travel retail markets continued to worsen, leading to EL to reduce its dividend from $0.66/share to $0.35 and pulling FY25 guidance as a new management team will take the reins later in FY25 to execute a turnaround.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App