(CercleFinance.com) – Jefferies maintains its Buy recommendation and raises its price target from $230 to $270 on the Estée Lauder share. “Our estimates are increasing to reflect increased visibility in China and the UK,” the analyst explains.
Jefferies remains positive on the acquisition of Tom Ford. ‘We see little to no risk given that Estée Lauder has worked with Tom Fort Beauty since 2006.’
The biggest benefit of this opportunity for Jefferies remains ‘the expansion of the beauty business, both online and into other categories as well as fashion and eyewear royalty’.
And to estimate: ‘Estée Lauder will record an additional $70 million in operating income’.
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