Estee Lauder price target lowered to $70 from $95 at B. Riley

B. Riley analyst Anna Glaessgen lowered the firm’s price target on Estee Lauder (EL) to $70 from $95 and keeps a Neutral rating on the shares. With end market deceleration, hindered visibility into domestic market share stabilization, and the transition of key leadership roles, Riley remains on the sidelines “given heightened uncertainty,” the analyst tells investors in a research note. The firm expects the shares will remain rangebound near term.

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