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Fly News Breaks for February 7, 2020
EL
Feb 7, 2020 | 09:03 EDT
Raymond James analyst Joseph Altobello raised his price target for Estee Lauder to $238 from $202 and reiterated an Outperform rating following the announcement of strong fiscal Q2 results that featured improved top line and margin trends. Altobello tells investors in a research note that the anticipated downward guidance revision reflecting the impact of the coronavirus appears to be less than feared, and believes the stock continues to warrant a premium valuation and offers upside given the company's attractive growth profile, healthy fundamentals and strong balance sheet.
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