Estee Lauder price target raised to $98 from $91 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on Estee Lauder (EL) to $98 from $91 and keeps an Overweight rating on the shares. Recent developments in leadership and influence at Estee Lauder could support more meaningful positive change going forward that the firm believes the stock’s current multiple doesn’t look to be fully baking in. Next week’s print also looks fairly de-risked, but Piper recognizes that visibility is limited and the next few months could still be bumpy. Beyond the very near term, however, the 12-month trajectory remains compelling. The firm remains a buyer.