Estée Lauder Update Following China’s Covid Situation Improvement
<p>Following improvement in China's COVID-19 situation, including the loosening of restrictions in key cities including Shanghai and Beijing, analysts at RBC Capital added <a href='https://financialmodelingprep.com/financial-summary/EL'>The Estée Lauder Companies Inc. (NYSE:EL)</a> back to top pick status. </p>
<p>Looking toward the full 2023-year, the analysts believe pricing benefits (approximately 4% points) and a China/travel retail recovery could drive around 10% constant currency sales growth. </p>
<p>The analysts believe management's attendance at upcoming conferences and the August earnings report could now represent positive catalysts for shares. Their outperform rating and $300 price target were maintained.</p>
NYSE:EL