Estée Lauder (NYSE: EL) shares surged on Monday after Deutsche Bank’s Stephen Powers upgraded the stock from Hold to Buy, citing improved fundamentals and signs of a bottoming global beauty market. The upgrade also reignites attention on Estée Lauder as a high-conviction play for legendary investor Michael Burry. In his latest 13F filing, Burry revealed that he liquidated all other holdings and doubled down on EL, increasing his position to 200,000 shares at an average cost basis of $66. Since then, the sto ...