Oppenheimer analyst Rupesh Parikh maintained a Buy rating on The Estée Lauder Companies Inc (NYSE: EL) today and set a price target of $148. The company’s shares closed on Friday at $135.94.
Parikh commented:
“Earlier this morning, EL reported Q4 results ahead of expectations, with adjusted EPS of $0.61 topping a Street figure of $0.56. Constant currency sales increased a robust 12% vs. a consensus forecast of 8.2%. Two-year stacked trends improved to +23% from +22% in Q3, which suggests still accelerating momentum. As we telegraphed in our preview, we expected a conservative guide and EL delivered with adjusted EPS guidance of $4.62-4.71, well below a Street figure of $5.00. We had expected a guide closer to $4.90-5.00, but FX and a change in accounting standards represented an incremental $0.20 headwind vs. our forecasts. We continue to look favorably upon EL’s longer-term prospects, but still see a murkier short-term outlook amidst China tariff/slowdown concerns.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.1% and a 63.2% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
Currently, the analyst consensus on The Estée Lauder Companies Inc is a Moderate Buy with an average price target of $153.50, implying a 12.9% upside from current levels. In a report issued on August 16, Piper Jaffray also reiterated a Buy rating on the stock with a $162 price target.
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The company has a one-year high of $158.80 and a one-year low of $104.01. Currently, The Estée Lauder Companies Inc has an average volume of 1.78M.
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Estee Lauder Cos., Inc. engages in the manufacture and marketing of skin care, makeup, fragrance, and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Aramis, Prescriptives, Lab Series, Origins, MAC, Bobbi Brown, La Mer, Aveda, Jo Malone London, Bumble and bumble, Darphin, GoodSkin Labs, Ojon, Smashbox, Osiao, Le Labo, RODIN olio lusso, Editions de Parfums Frédéric Malle, GLAMGLOW, and By Kilian. The company was founded by Estée Lauder and Joseph Lauder in 1946 and is headquartered in New York, NY.
