Argus Downgrades Estee Lauder (EL) to Hold
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Argus downgraded Estee Lauder (NYSE: EL) from Buy to Hold.
The analyst believes further market share gains will be difficult to achieve given challenging economic conditions, increased competition, and slower growth in the premium beauty products segment.
The firm is lowering FY17 EPS estimate from $3.70 to $3.56. For FY18, they are setting an estimate of $4.05.
Shares of Estee Lauder closed at $88.09 yesterday.
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