Estee Lauder rises after HSBC upgrades to 'buy'

Cosmetics giant Estee Lauder's shares EL.N rise 2.6% to $81.12 in premarket trading

HSBC upgrades stock to "buy" from "hold", citing possible end to earnings downgrade on dollar weakness, co's growth plan

Brokerage raises PT to $99 from $80; new PT implies more than 25% upside to EL's last closing price

"The group is set up to pretty much double its earnings (granted from a very low level) between FY June 2025 and FY June 2027, mostly driven by cost cutting and reorganisation-led efficiencies rather than top-line growth, though we see a bit of a rebound there nonetheless," HSBC says

Four brokerages rate stock "buy", 23 "hold" and one "sell"; their median PT is $65 - LSEG data

Stock up 5.4% YTD as of last close