Barclays Upgrades Estee Lauder (EL) to Overweight; More Than Just 'Cosmetic' Change

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Barclays upgrades The Estée Lauder Companies (NYSE: EL) from Equalweight to Overweight. PT raised from $69 to $81.

Barclays analyst says, "After a thorough review of the underlying earnings potential in Estee Lauder's business, we now think the greater source of upside surprises over time will be revenue growth rather than an undisclosed or underestimated pool of cost savings. Our intention in this report is to begin to explore the strategic changes under way at Estee Lauder, how those will impact the top line and, ultimately, yield more predictable, sustainable, and profitable
growth."

FY10 EPS estimate adjusted from $3.16 to $3.21 and FY11 from $3.70 to $3.80.

To see all upgrades/downgrades on shares of EL, visit our Analyst Ratings page.

Shares are currently trading at $71.90, down $0.26 (-0.36%)

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