Estee Lauder (EL) PT Raised to $158 at RBC Capital; 'Still the Best Company in the CPG Space'

RBC Capital raised its price target on Estee Lauder (NYSE: EL) to $158.00 (from $155.00) while maintaining a Outperform rating.

Analyst Nik Modi commented, "EL’s sell-off was not surprising. After all, the stock meaningfully outperformed the broader staples group and the worry over tough compares was predictable. With that said, we are a bit shocked at the magnitude of the sell-off. But that’s the opportunity. EL remains one of the best managed companies across our coverage, has significant margin upside and is levered to attractive end-markets (no pun intended). We recognize the tough compares ahead and advise investors to add on the pullback, with the full understanding that there will be several times to add to positions over the coming 3 quarters."

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