Oppenheimer downgrades this cosmetics stock, says gains will be harder to come by

This cosmetic stock will struggle in the short-term due to macroeconomic headwinds weighing down material upside, Oppenheimer said.

Oppenheimer thinks Estee Lauder will have trouble meeting Wall Street's high expectations. The firm downgraded the luxury cosmetic stock to perform from outperform on Monday and removed its $250 price target. The stock closed at $188.29 per share on Friday. "As we look forward, we are harder pressed to see shares outperforming from current levels amidst aggressive Street estimates, a still premium valuation vs.

" Parikh added that Oppenheimer expects further caution on forward guidance from company management in the future, although the company could still recover over a longer period thanks to its market prominence. "We believe the company's positioning to the global prestige beauty category, a strong management team, and consistent track record with M & A position it to continue gaining market share over the longer-term," he said.

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