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Oppenheimer sees Estee Lauder rally extending

Published 08/09/2017, 01:36 PM
© Reuters.  Oppenheimer sees Estee Lauder rally extending
EL
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  • Estee Lauder (EL +2.3%) pokes out a tidy gain after Oppenheimer pitches the upside case.
  • The firm says the cosmetics seller's earnings can improve in 2018 and 2019 as momentum accelerates in key international markets and the impact from recent acquisitions kicks in. Partnerships with Ulta nd Sephora are also seen as a positive.
  • "We no longer view EL shares as cheap, but believe investors are likely to assign a higher multiple to shares given the current backdrop," writes analyst Rupesh Parikh.
  • Oppy has an Outperform rating and $110 price target on EL.
  • Now read: Money Is Flowing Back Into Growth Stocks - Cramer's Mad Money (6/19/17)


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