Analysts Are Upgrading These 5 Stocks

03. The Estée Lauder Companies Inc. (NYSE:EL)

Number of Hedge Fund Holders: 59

The Estée Lauder Companies Inc. (NYSE:EL) manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It is one of the best household stocks to invest in. Berenberg has upgraded The Estée Lauder Companies Inc. (NYSE:EL) from Hold to Buy in a note on June 14. The analyst, Fulvio Cazzol, has set a price target of $243. Cazzol believes that The Estée Lauder Companies Inc. (NYSE:EL) is “on the cusp of a glow-up” and considers the company’s shares attractive, especially after a decline since the beginning of the year.

ClearBridge All Cap Growth Strategy made the following comment about The Estée Lauder Companies Inc. (NYSE:EL) in its Q4 2022 investor letter:

“The Estée Lauder Companies Inc. (NYSE:EL), which manufactures and markets cosmetics, fragrances, skin and hair care products across a number of well-known global brands including Clinique, MAC and Bobbi Brown, adds to our group of secular growers. Estee Lauder is a global leader in the prestige beauty space, which has outgrown the broader home and personal care category since 2010 and has historically been recession resilient. The company has substantial brand and pricing power and is overindexed to the highly profitable prestige skin care category. We believe the company’s most recent earnings report and 2023 guidance update, which was cut significantly due to uncertainty over China’s zero-COVID policy (China and travel retail are key growth drivers), provided an attractive entry point. At this point, we believe the stock has been significantly derisked and could see potential upside from a China recovery.”