Estée Lauder upgraded to "neutral" - update

16.01.08 - UBS

NEW YORK, January 16 (newratings.com) - Analysts at UBS upgrade Estée Lauder (EL) from "sell" to "neutral." The target price is set to $41.

In a research note published this morning, the analysts mention that the company?s share price has declined by 12% since November 1, 2007 primarily due to the deterioration of the US retail environment. Estée Lauder?s share price reflects a more severe sales decline and inventory build up than is likely to occur, the analysts say.