Canaccord analyst Susan Anderson lowered the firm’s price target on Estee Lauder (EL) to $75 from $100 and keeps a Hold rating on the shares. The firm said their Q1 results fell short as trends in the key China and Asia travel retail markets continued to worsen, leading to EL to reduce its dividend from $0.66/share to $0.35 and pulling FY25 guidance as a new management team will take the reins later in FY25 to execute a turnaround.
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Read More on EL:
- Estee Lauder downgraded to Neutral from Overweight at JPMorgan
- Estée Lauder Faces Challenges Amidst Market Uncertainty
- Estee Lauder price target lowered to $89 from $122 at Piper Sandler
- Estée Lauder Stock (EL) Falls 20% as Guidance Is Lowered and Dividend Slashed
- Microsoft reports Q1 beat, Comcast weighs cable networks spinoff: Morning Buzz
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