Estée Lauder upgraded to "buy"

30.01.08 - UBS

NEW YORK, January 30 (newratings.com) - Analysts at UBS upgrade Estée Lauder Company Inc (EL) from "neutral" to "buy," while raising their estimates for the company. The target price has been raised from $41 to $52.

In a research note published yesterday, the analysts mention that research reflects that the company?s performance in the December quarter was not highly disappointing. Estée Lauder seems ready to implement a restructuring in its cost structure and distribution, the analysts say. UBS expects investor sentiment to improve in the forthcoming months. The EPS estimates for 2008 and 2009 have been raised from $2.36 to $2.40 and from $2.57 to $2.70, respectively.