Piper Jaffray Downgrades Estee Lauder (EL) to Neutral
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray downgraded Estee Lauder (NYSE: EL) from Overweight to Neutral with a price target of $90.00 following the firm's 32nd semi-annual Taking Stock With Teens survey.
Analyst Stephanie Wissink said, "EL’s brands overall ceded 200bps of share Y/Y and sequentially since spring. As the artisanal makeup brand space becomes more competitive, the company’s legacy brands are less able to rely on traditional marketing and promotional tactics to gain share. The millennial-focused Estee Edit line, launched in March, did not appear within our survey."
Shares of Estee Lauder closed at $88.18 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Estée Lauder (EL) Enters Agreement to Acquire BECCA Cosmetics
- PayPal (PYPL) PT Raised to $45 at Oppenheimer
- GoDaddy (GDDY) Climbs After Piper Jaffray Lifts PT to $50
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!