UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Estee Lauder Companies on High Expectations

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Estee Lauder Companies

, and raised its price target from $63.00 to $65.00. Deutsche Bank noted, “Growing through a tough macro, but expectations are high. Almost 4 years into its spectacular turnaround, the company is in a solid position to consolidate share and lead with innovation and branding to take the company to the next growth and margin level as categories develop in emerging markets as it takes share from mass in developed regions. However, with company expecting to grow at 2x the prestige market in an uncertain macro, there is little room for error in this sales growth levered business model.” Estee Lauder Companies closed on Tuesday at $64.71.