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Estee Lauder Q3 Likely to be Slightly Below Consensus, RBC Says

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-- Estee Lauder's (EL) fiscal Q3 results are expected to be slightly below consensus due to external headwinds, RBC Capital Market said in a note on Wednesday. The results are due May 1.

The report also said the company is expected to reiterate its full-year guidance given the wide top and bottom line ranges.

"We see a neutral risk to reward this quarter," the note said.

On the ongoing Middle East conflict, the report said the impact is not expected to be "overwhelming" as its exposure to Israel and the Middle East is likely limited.

Additionally, category trends in the US are largely resilient and the consumer environment has not significantly changed since the last earnings report, according to the note.

RBC kept its outperform rating and a $111 price target.

Price: $76.01, Change: $-1.09, Percent Change: -1.41%

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