Jefferies analyst Stephanie Wissink is "further conflicted in quality of growth assumptions" for Estee Lauder (EL) after Costco (COST) disclosed it will now be selling Le Mer, one of the highest priced luxury brands in skincare and Estee's portfolio. The analyst says she would not have expected a luxury positioned brand like Estee's Le Mer to distribute into the club channel. Further, China data points continue to be "highly mixed" while the timing of insider selling has also been a topic of investor concern, Wissink tells investors in a research note. She keeps a Hold rating on Estee Lauder with a $131 price target.