Goldman Sachs Resumes Coverage on Estee Lauder with Buy Rating (EL)

Goldman Sachs Resumes Coverage on Estee Lauder with Buy Rating (EL)

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Goldman Sachs reported on Friday that they have reaffirmed both their price target and rating on beauty product manufacturer, Estee Lauder Companies Inc(EL).

The firm reported that they have maintained a “Buy” rating and a $77 price target for the company. This price target suggests a 22% increase from the stock’s current price of $59.91.

Analyst see the company benefiting from growth in emerging markets and increased DM growth.

An analyst from the firm commented, “we recommend investors buy pure-play EL to gain focused exposure to the most powerful secular trends in HPC and benefit by compounding returns on best-in-class mid-teens EPS growth”

Estee Lauder shares were mostly flat during premarket trading Friday. The stock is up 6.7% YTD.

The Bottom Line
Shares of Estee Launder (EL) have a 1.20% dividend yield, based on last night’s closing stock price of $59.91. The stock has technical support in the $54-$55 price area. The stock is trading near the all-time high range of $64-$66 a share.

Estee Lauder Companies Inc(EL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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