Estee Lauder Downgraded to Hold with $106 Target, B. Riley Lifts to $105
ELEL•
HSBC cut Estee Lauder’s rating to Hold and nudged its price target up to $106 from $105, citing underwhelming organic sales growth and forecasting a Q3 growth slip with tougher China offsets. B. Riley lifted its target to $105 from $100, maintaining Neutral on stronger margin assumptions.
1. HSBC Downgrades to Hold and Raises Target
The Estée Lauder Companies was downgraded to Hold, with its price target nudged up to $106 from $105 as HSBC cited modest organic sales growth and forecasted a Q3 sales growth slip offset by tougher China comparatives.
2. B. Riley Lifts Price Target on Margin Strength
B. Riley boosted its price target to $105 from $100 and maintained a Neutral rating, attributing the increase to stronger margin assumptions following an above-consensus fiscal Q2 performance.
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