BofA raises Estee Lauder's PT; shares rise

Shares of cosmetics maker Estee Lauder EL.N rise nearly 2.7% to about $103.8 premarket

BofA Global Research raises Estee Lauder's PT to $130 from $120 and adds stock to the US 1 list, maintains "buy" rating

New PT represents an upside of 28.7% from stock's last close

BofA names Estee Lauder top beauty pick for 2026, citing its ‘Beauty Reimagined’ plan

Brokerage sees growth driven by increased consumer spending, backed by $800 million to $1 billion in cost savings and reinvestment

Says co's turnaround will now be supported by improving beauty market, especially in China and the U.S., which contributes ~40% of Estee Lauder's revenues

As of last close, shares up 34.7% YTD