Citigroup Downgrades Estee Lauder Cos to Neutral, Lowers Price Target to $195
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Filippo Falorni has downgraded Estee Lauder Cos (NYSE:EL) from Buy to Neutral and lowered the price target from $240 to $195.
August 01, 2023 | 9:30 am
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NEGATIVE IMPACT
Estee Lauder Cos has been downgraded by Citigroup from Buy to Neutral, with a lowered price target of $195 from $240.
The downgrade from Buy to Neutral by Citigroup indicates a less optimistic outlook for Estee Lauder Cos. The lowered price target from $240 to $195 also suggests that the analyst believes the stock is currently overvalued. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100