Estée Lauder's Beauty Gains Can't Offset Global Headwinds, Says Analyst

1. Telsey Advisory lowered EL's price target from $76 to $66. 2. EL's Q3 earnings beat expectations but Q4 EPS guidance fell below forecasts. 3. 75% of U.S. sales now sourced domestically, reducing reliance on China. 4. Clinique leads U.S. market share gains for 11 consecutive quarters. 5. Analyst expects 8.5% YoY sales decline to $14.29 billion.