Estee Lauder Gets New Makeup Division Head, Price Target Boost: Stock Climbs, But Retail Unmoved

(MENAFN- AsiaNet News) <p>Estee Lauder Cos (EL) shares gained 3.6% on Thursday following a new leadership appointment and a price target hike.</p> <p>The company announced the appointment of Lisa Sequino as president of its makeup division. </p> <p>Sequino, who previously worked at Estee Lauder for nine years until 2022, will oversee brands such as MAC, Bobbi Brown, Too Faced, Smashbox, and Glamglow.</p> <p>Meanwhile, Barclays raised its price target on the company's shares to $63 from $56, and maintained its 'Equalweight' rating.</p> <p>The analyst expects the company to grow "at least in line" with the industry and that the new CEO was "acting with a strong sense of urgency and a greater pulse on the consumer."</p> <p>Stephane de La Faverie, a 13-year veteran at the company, took over as CEO on Jan. 1</p> <p>The company's stock got a boost recently when famed investor Michael Burry revealed that he had doubled his position.</p> <p>Shares have gained 37% from their recent low on April 8.</p> <p>On Stocktwits, the retail sentiment was 'neutral,' unchanged from a week ago.</p> <img> EL sentiment and message volume as of May 29 | Source: Stocktwits <p>A user said, "$EL looks solid here, ready to breakout and had bullish net flow today."</p> <p>Estee Lauder shares are down 8.4% this year.</p> <p>For updates and corrections, email newsroom[at]stocktwits[dot]com.<</p>

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