Estee Lauder (EL) PT Lowered to $240 at Raymond James

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Go back to Estee Lauder (EL) PT Lowered to $240 at Raymond James

Analyst sees a win-win scenario for Estee Lauder (EL) shareholders if Peltz rumors are true

May 8, 2023 9:34 AM EDT

Estee Lauder (NYSE: EL) shares erased most of the pre-market gains after CNBCs Jim Cramer said the reports about activist investor Nelson Peltz exploring a possible shakeup at the beauty company are not true.

The stock traded over 5% higher in pre-market Monday after the New York Post reported yesterday that activist investor Nelson Peltz is exploring a possible shakeup, including the removal of the long-standing CEO Fabrizio Freda.

Peltz is reportedly looking at helping the company to cut costs and rejigger Estée Lauders brands, while the sale of the company is... More