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Fly News Breaks for August 14, 2018
EL
Aug 14, 2018 | 07:14 EDT
Oppenheimer analyst Rupesh Parikh lowered his price target for Estee Lauder to $148 from $170 ahead of quarterly results. The analyst continues to look "very favorably" upon the company's long-term prospects, but expects a bumpier ride from here given prospects for slowing top and bottom-line growth and increased geopolitical uncertainty. Given the potential for less earnings upside and increased uncertainty near-term, Parikh is removing Estee Lauder as a top pick. The analyst has an Outperform rating on the shares.
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