KeyBanc Starts Estee Lauder (EL) at Buy

KeyBanc initiated coverage on Estee Lauder (NYSE: EL) with a Buy rating and a price target of $85.00.

Analyst Jason Gere said, "EL offers a “best-in-class” portfolio of beauty / personal care brands that possesses strong strategic alignment and consistently targets / reaches out toward key consumer preferences / purchasing trends. Investors should recognize that FY15 represents a transitional year for EL as the impact of its streamlining initiative, unfavorable FX, and softer Chinese conditions are felt, though we see a strong case for a re-acceleration in top- and bottom-line growth into FY16 based upon the strength of EL’s product portfolio and margin progress, with potential for additional upside as its flexibility to deploy capital (i.e., M&A, share repurchases) is exercised. We believe EL’s growth story is deserving / supportive of its premium valuation."

For an analyst ratings summary and ratings history on Estee Lauder click here. For more ratings news on Estee Lauder click here.

Shares of Estee Lauder closed at $72.23 yesterday.

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