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Fly News Breaks for August 28, 2018
Aug 28, 2018 | 07:03 EDT
As previously reported, Morgan Stanley analyst Dara Mohsenian upgraded Estee Lauder to Overweight from Equal Weight as he believes the stock's sharp pullback since mid-June has created a compelling entry point. Mohsenian thinks the market is not fully recognizing Estee Lauder's long-term growth potential while the pullback has priced in the risk associated with a China slowdown. Additionally, the strong U.S. macro backdrop has reduced the risk that the market could shift to a more defensive posture away from more discretionary names like Estee, the analyst tells investors. Mohsenian edged up his price target on Estee Lauder shares to $160 from $159.
News For EL From the Last 2 Days
Mar 20, 2019 | 12:47 EDT
Jefferies analyst Stephanie Wissink said Amazon's (AMZN) launch of a value priced private label skincare brand, Belei, "came as a bit of a surprise," adding that her sense from contacts inside and outside of the e-commerce company is that the launch is meant to establish a stronger presence, refine a more robust beauty platform and provide data to improve access to national brands. Wissink said it has become increasingly competitive for smaller brands to get into Sephora and Ulta (ULTA) and she expects Amazon to gain access to a growing number of small brands. Wissink points to Ulta's recent strong report as an indicator that with the right, curated assortment, the company is able to protect its position and gain share. Publicly traded skincare and beauty product makers include Estee Lauder (EL), Revlon (REV), Coty (COTY) and e.l.f. Beauty (ELF).