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Fly News Breaks for November 16, 2016
EL
Nov 16, 2016 | 08:46 EDT
Wells Fargo believes that worries about Estee Lauder's acquisition of Make-Up Art Cosmetics, or MAC, are overdone,. The firm thinks that MAC meets Estee Lauder's brand incubation criteria. The firm is also upbeat on the company's acquisition of Too Faced Cosmetics, calling the latter company "a growth engine" for Estee Lauder. Wells reiterates an Outperform rating on Estee Lauder.
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