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Fly News Breaks for January 31, 2018
EL
Jan 31, 2018 | 09:07 EDT
BMO Capital analyst Shannon Coyne raised her price target on Estee Lauder to $140 citing market share gains by the MAC brand over the past several months and stronger department stores beauty trends. The analyst also notes that the strength in the China market has likely continued, as evidenced by LVMH's Asia sales growth of 12%. Coyne keeps her Market Perform rating on Estee Lauder, saying the stock "already reflects continued momentum" with valuation at a 33% premium relative to its peer group.
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