Estee Lauder shares are trading higher after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $160 to $170.
Portfolio Pulse from Benzinga Newsdesk
Estee Lauder's stock price increased following an upgrade from B of A Securities, moving from Neutral to Buy, with a new price target set at $170, up from $160.
March 28, 2024 | 11:02 am
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Estee Lauder's stock price is likely to experience a short-term increase following the upgrade by B of A Securities from Neutral to Buy, with a raised price target from $160 to $170.
Stock upgrades by reputable financial institutions like B of A Securities typically lead to a positive short-term reaction in the market. The increase in the price target from $160 to $170 signals a strong confidence in the company's future performance, likely encouraging investors to buy shares, thus driving up the price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100