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Estée Lauder glows after bullish upgrade from JPMorgan

Estée Lauder shares jumped as much as 3.5% Friday before paring gains, after JPMorgan gave the beauty giant a bullish lift.

The bank raised its rating to “overweight” from “neutral” and boosted its price target to $101 from $62, or about 16% higher than current trading levels.

Analysts indicated a potential turnaround in like-for-like sales during the upcoming holiday season, citing restructuring progress and sharper execution across digital channels. The company is in the midst of a cost-cutting plan that includes job cuts and streamlining its org chart.

JPMorgan also highlighted Estée Lauder’s growing presence on TikTok and Amazon, as well as its use of AI-powered marketing to drive growth in online sales.

The stock has been trending higher following a similar upgrade from Deutsche Bank last month, which raised its price target to $95 and called the brand “well-positioned” for a bounce back. It also comes after the passing of Leonard A. Lauder, the company’s longtime chairman emeritus.

Estée Lauder shares are up more than 18% year to date.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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