US stocks movement: Estée Lauder rises 2% after abandoning sale of subsidiary brands, with institutions turning optimistic

Glonghui, July 15 — Estée Lauder rose nearly 2% to $82.21. News of Estée Lauder Group selling Too Faced, Smashbox, and Dr.Jart+ has been reversed. An internal memorandum from Estée Lauder Group shows the company has decided to retain these three major brands and implement a series of operational adjustments. In addition, a research report from Citi stated that Estée Lauder is currently in a favorable market environment, has added it to its watch list, and expects the share price to rise within the next 90 days. This assessment is based on sustained growth momentum in product categories in Mainland China, as well as positive trends in revenue and market share in the US market. Citi maintains a "Buy" rating on Estée Lauder, with a target price of $110.