The Estée Lauder Companies Inc. (NYSE:EL) is one of the best luxury stocks to buy now. On February 10, The Estée Lauder Companies Inc. (NYSE:EL) was downgraded to Hold from Buy by HSBC, with the firm adjusting the price target to $106 from $105. HSBC cited the company’s “modest” organic sales upgrade in the quarter, stating that it “underwhelmed” investors relative to expectations heading into the print. The firm told investors in a research note that The Estée Lauder Companies Inc.’s (NYSE:EL) organic sales growth is set to slip in fiscal Q3, and that it sees tougher China compared with easier U.S. comparatives “offsetting one another” in the company’s second half of the fiscal year.
In another development, B. Riley lifted the price target on The Estée Lauder Companies Inc. (NYSE:EL) to $105 from $100 on February 9, maintaining a Neutral rating on the shares and stating that while the company beat Street expectations with its fiscal Q2 report, expectations were elevated into the print. The firm also attributed the price target increase to stronger margins assumptions.
Estée Lauder Companies Inc. (NYSE:EL) is a globally popular manufacturer of hair care, skincare, makeup, and fragrance. Its elaborate product portfolio includes Estée Lauder, Clinique, MAC, Bobbi Brown, Jo Malone London, Too Faced, La Mer, and others. The company sells its products through multi-brand retailers, department stores, prestige salons and spas, upscale perfumeries, and pharmacies.
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Disclosure: None. This article is originally published at Insider Monkey.
