Market Overview

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

Share:
Related EL
Benzinga's Top Upgrades
Dana Telsey Is Going Long Estee Lauder

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.

Latest Ratings for EL

DateFirmActionFromTo
Aug 2015FBR CapitalReiteratesOutperform
Aug 2015RBC CapitalMaintainsOutperform
Aug 2015Telsey Advisory GroupUpgradesMarket PerformOutperform

View More Analyst Ratings for EL
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Initiation Analyst Ratings

 

Related Articles (EL)

Get Benzinga's Newsletters