Before Wall Street even had its morning coffee on Monday, June 23, Estée Lauder (EL) stole the spotlight. There was no press release or major announcement, just a shift in perception. Deutsche Bank analyst Steve Powers upgraded the beauty titan from “Hold” to “Buy.”
Shares jumped nearly 5% on the news, leaving the S&P 500 Index ($SPX) trailing behind. What triggered this sudden optimism was Powers’ conviction that Estée Lauder’s international expansion plans, particularly those extending beyond China, are finally bearing fruit.
