Estee Lauder Stock Dinged by Pre-Earnings Downgrade

The shares of Estee Lauder Companies Inc (NYSE:EL) are 0.7% lower at $94.51 at last look, after a bear note from BofA Global Securities. The Wall Street analyst downgrade EL to "neutral" from "buy" and lowered its price target by $40 to $100, citing headwinds in China and softening demand in the U.S. This pessimistic note precedes Estee Lauder's fiscal fourth-quarter earnings call, due out before the open on Monday, Aug. 19. Per Zacks, Wall Street anticipates the cosmetics giant to report a year-over-year r ...