Analyst: Retail Stock Sports Favorable Setup

The shares of Estee Lauder Companies Inc (NYSE:EL) are 0.9% higher to trade at $153.41 this morning, after Citi upgraded the luxury retailer to to "buy" from "neutral." While also hiking its price target by$15 to $175, the analyst in coverage cited normalizing channel inventories and financials.Over the last 12 months, Estee Lauder stock is down 37.3%, but is now up 6% in 2024, slightly underperforming the SPDR S&P 500 ETF Trust's (SPY) 8.8% gain. Stuck in a tight trading range since February, the shares a ...