Estee Lauder Gets New Makeup Division Head, Price Target Boost: Stock Climbs, But Retail Unmoved

Estee Lauder Cos (EL) shares gained 3.6% on Thursday following a new leadership appointment and a price target hike.

The company announced the appointment of Lisa Sequino as president of its makeup division. 

Sequino, who previously worked at Estee Lauder for nine years until 2022, will oversee brands such as MAC, Bobbi Brown, Too Faced, Smashbox, and Glamglow.

Meanwhile, Barclays raised its price target on the company's shares to $63 from $56, and maintained its 'Equalweight' rating.

The analyst expects the company to grow "at least in line" with the industry and that the new CEO was "acting with a strong sense of urgency and a greater pulse on the consumer."

Stephane de La Faverie, a 13-year veteran at the company, took over as CEO on Jan. 1

The company's stock got a boost recently when famed investor Michael Burry revealed that he had doubled his position.

Shares have gained 37% from their recent low on April 8.

On Stocktwits, the retail sentiment was 'neutral,' unchanged from a week ago.

A user said, "$EL looks solid here, ready to breakout and had bullish net flow today."

Estee Lauder shares are down 8.4% this year.

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