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The Estée Lauder Companies Inc. EL reported better-than-expected results for its fourth quarter on Thursday.
However, the company it sees FY23 adjusted EPS of $7.39 – $7.54, against the consensus of $7.99. Reported net sales are forecasted to increase by 3% – 5%. For Q1, it expects adjusted EPS of $1.22 – $1.32 versus the consensus of $1.88. Reported net sales are forecasted to decrease by 10% – 8%.
Estée Lauder shares fell 0.9% to $279.00 in pre-market trading.
Several analysts made changes to their price targets on Estée Lauder following the release of results.
- RBC Capital lowered price target on Estée Lauder from $322 to $313. However, RBC Capital analyst Nik Modi maintained the stock with an Outperform.
- Credit Suisse cut Estée Lauder price target from $310 to $308. However, Credit Suisse analyst Michael Binetti maintained the stock with an Outperform rating.
- However, Wells Fargo raised Estée Lauder’s price target from $290 to $310. However, Wells Fargo analyst Chris Carey maintained an Overweight rating on the stock.
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Image and article originally from www.benzinga.com. Read the original article here.