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BUZZ-Estee Lauder rises after Argus Research's upgrade

Reuters
Nov 11
BUZZ-Estee Lauder rises after Argus Research's upgrade

** Shares of cosmetics giant Estee Lauder <EL.N> rise 1.5% to $91 premarket

** Argus Research upgrades stock to "buy" from "hold"; PT at $105

** Brokerage says co has restored revenue growth and aims to achieve low double-digit-operating margins in the near term

** Adds EL's new management is boosting innovation and expanding into channels such as Amazon Premium Beauty, Sephora and Ulta to attract more customers

** In October, co beat Q1 sales and profit estimates on strong demand for its fragrances and uptick in China demand

** 8 of 28 brokerages rate stock "buy" or higher, 20 rate "hold"; median PT is $105 - data compiled by LSEG

** As of last close, EL shares up ~19.5% YTD

(Reporting by Sanskriti Shekhar in Bengaluru)

((Sanskriti.Shekhar@thomsonreuters.com))

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