Market Overview

UPDATE: Morgan Stanley Initiates Coverage on Estee Lauder Companies with Overweight Rating, $70 PT

Related EL
Morgan Stanley Issues 2015 'Vintage Values' Stock List
Benzinga's Top Downgrades

In a report published Monday, Morgan Stanley initiated coverage on Estee Lauder Companies (NYSE: EL) with an Overweight rating and $70.00 price target.

Morgan Stanley noted, “We project 6.2% long-term EL organic revenue growth, at the high end of our coverage, and above the 5-6% we estimate the market is discounting. The key factors driving our positive view are: (i) EL's exposure to high growth beauty categories; and (ii) EL market share gains with higher marketing and improved execution. Travel retail and emerging markets both offer particularly robust growth opportunities.”

Estee Lauder Companies closed on Friday at $58.25.

Posted-In: Morgan StanleyAnalyst Color Initiation Analyst Ratings

 

Most Popular

Related Articles (EL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free