Estee Lauder says luxury brands, including La Mer, Tom Ford, are thriving Says affluent customers "spending freely". Says emerging markets continue to deliver most rapid growth. Sees further expansion opportunities into smaller cities in China for years to come. Comments made on the Q2 earnings conference call.
Estee Lauder upgraded to Overweight from Neutral at Piper Jaffray Piper Jaffray upgraded Estee Lauder to Overweight with a $100 price target citing the company's attractive return on invested capital and growth potential from acquisitions. Shares were also upgraded yesterday morning at Wells Fargo.