Citi analyst Wendy Nicholson raised her price target for Estee Lauder to $188 from $179 after conducting a survey of 50 prestige beauty stores in China. While European brands were cited as more preferred by Chinese consumers than American brands by a factor of two-to-one, as a single brand, Estee Lauder was not only named most often as the most popular brand currently but also as the brand gaining the most in popularity, Nicholson tells investors in a research note. Following the survey, the analyst "slightly" raised her fiscal 2020 and 2021 earnings estimates on modestly increased sales growth expectations. Nicholson now has increased confidence in Estee Lauder's China story and she keeps a Buy rating on the shares.