Estee Lauder Downgraded at Oppenheimer, Shares Fall 2%
<p>Oppenheimer analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/EL'>Estee Lauder (NYSE:EL)</a> to Perform from Outperform and removed their previous $250 price target on the stock. Shares fell more than 2% intra-day today.</p>
<p>The analysts shared their insights regarding the company's recent report in early May, developments in the consumer and beauty sectors, and the downward trend in shares. The analysts emphasized that after revisiting their investment views on Estee Lauder, they now perceive a less favorable risk/reward scenario.</p>
<p>The analysts acknowledged the challenges in foreseeing the shares outperforming current levels due to aggressive Street estimates, a historically premium valuation, and the potential for conservative management guidance in August.</p>
<p>The analysts concluded that Estee Lauder no longer embodies a "beat and raise" narrative, suggesting an increased risk to the company's premium multiple.</p>

NYSE:EL