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Estée Lauder seen benefiting from China reopening, analysts upgrade to Buy By Investing.com

by Investing.com
December 6, 2022
in Business
Reading Time: 1 min read
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© Reuters Estee Lauder (EL) seen benefiting from China reopening, analyst upgrades to Buy

By Senad Karaahmetovic 

Deutsche Bank analysts upgraded shares of Estée Lauder (NYSE:) to Buy from Hold with a price target of $266 per share.

The analysts see EL benefiting from the “increased likelihood of China reopening” by the start of the company’s 2024 fiscal year. They also have increased confidence in makeup margin expansion.

“Although EL is likely to face challenges over the next several quarters, we see such difficulties as well-telegraphed by recent guidance. Moreover, we believe recent developments in China give more credibility to category resurgence in that market/Hainan by CY2H23 (acknowledging potential parallel risks of US/ EU slowing),” they said in a client note.

The analysts are also positive on EL stock after the recent meeting with management, leaving them convinced in “eventual makeup margin recovery (a key driver of outsized profit growth longer-term) once segment revenues return to prepandemic levels or higher.”

EL shares are up over 2% today.



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Tags: analystsbenefitingBuyChinaEsteeInvestingcomLauderReopeningupgrade
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