December 14, 2012 at 09:34 AM EST
Goldman Sachs Resumes Coverage on Estee Lauder with Buy Rating (EL)

Goldman Sachs reported on Friday that they have reaffirmed both their price target and rating on beauty product manufacturer, Estee Lauder Companies Inc(EL).

The firm reported that they have maintained a “Buy” rating and a $77 price target for the company. This price target suggests a 22% increase from the stock’s current price of $59.91.

Analyst see the company benefiting from growth in emerging markets and increased DM growth.

An analyst from the firm commented, “we recommend investors buy pure-play EL to gain focused exposure to the most powerful secular trends in HPC and benefit by compounding returns on best-in-class mid-teens EPS growth”

Estee Lauder shares were mostly flat during premarket trading Friday. The stock is up 6.7% YTD.

The Bottom Line
Shares of Estee Launder (EL) have a 1.20% dividend yield, based on last night’s closing stock price of $59.91. The stock has technical support in the $54-$55 price area. The stock is trading near the all-time high range of $64-$66 a share.

Estee Lauder Companies Inc(EL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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