Estee Lauder up after co sets long term growth, margin targets

By Reuters Newsan hour ago Updated

** Shares of cosmetics maker Estee Lauder EL.N up 2% at $107.52 premarket

** EL provides long term sales growth, margin targets at capital markets event in Shanghai

** Expects adjusted operating margin of 16.5% to 18.5% in fiscal 2030, compared with its fiscal 2027 guidance of 12.9% to 13.8%

** It aims to deliver mid-single-digit organic sales growth annually and double-digit adjusted earnings per share growth through fiscal 2030

** Co on Monday raised its annual sales and profit forecast citing strong demand for premium fragrances and skincare products

** As of last close, stock up about 1% YTD

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