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Fly News Breaks for November 3, 2016
EL
Nov 3, 2016 | 07:39 EDT
As previously reported, CLSA downgraded Estee Lauder two notices to Underperform from Buy. Analyst Caroline Levy said Estee Lauder's Q1 organic revenue growth of +2% was below her estimate of +3% and said the company faces accelerated headwinds from channel mix, categories, and brand fragmentation. Levy expects slower growth to offset efficiency gains from the company's cost savings program and reduced her price target on shares to $84.
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