Wall Street Analysts Trim Price Targets for These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts Trim Price Targets for These 5 Stocks.

05. The Estée Lauder Companies Inc. (NYSE:EL)

Number of Hedge Fund Holders: 59

In recent financial analysis activity on August 8, Steve Powers, an analyst affiliated with Deutsche Bank, enacted a minor adjustment in the estimated price target for The Estée Lauder Companies Inc. (NYSE:EL), a prominent company within the cosmetic industry. Previously set at $207, the newly revised price target now stands at $206. Despite this slight alteration in the projected price target, Steve Powers has upheld the company’s “Buy” rating. This suggests that Powers maintains a positive outlook on The Estée Lauder Companies Inc. (NYSE:EL) potential performance in the market, indicating his belief that the company’s shares might offer a favorable investment opportunity. The adjustment of just $1 in the price target reflects a nuanced reassessment by Powers, possibly considering various factors, including the company’s recent performance, market trends, and potential growth prospects.

Here is what Aristotle Atlantic Partners has to say about The Estee Lauder Companies Inc. (NYSE:EL) in its Q2 2023 investor letter:

“Estee Lauder shares were weak during the second quarter, following an inline earnings report where Estee again pushed out the timing of a recovery in their travel retail business due to sluggish travel trends in China and an inventory overhand in that end market. Estee reduced fiscal 2023 earnings guidance again and pushed the timing of the recovery toward the end of this calendar year. Outside of travel retail, growth was solid in the Americas, Europe, APAC, Emerging Markets and China.”