UPDATE: Deutsche Bank Downgrades Estee Lauder (EL) to Hold

August 2, 2021 6:14 AM EDT
Get Alerts EL Hot Sheet
Price: $320.65 -0.21%

Rating Summary:
    24 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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(Updated - August 2, 2021 7:23 AM EDT)

Deutsche Bank analyst Steve Powers downgraded Estee Lauder (NYSE: EL) from Buy to Hold with a price target of $322.00.

The analyst commented, "Valuation/FY4Q21 setup no longer offer positive risk/reward; Downgrade to Hold. We adjust our estimates modestly for FX fluctuations and slightly higher developed market/makeup expectations in the near-term (mainly in the US alongside recent vaccination progress); however, our estimates go largely unchanged, as does our Price Target (now $322, up from $320). With the stock currently trading above our PT and up +25% YTD (+9% over the last two months) and valuation at all-time high levels, we downgrade to Hold."

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 $333.83 yesterday.

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