Estée Lauder Companies Inc (NYSE:EL) shares tanked in early trading on Tuesday, after the company reported results for its fiscal fourth quarter.

The results came amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Estée Lauder Companies

Analyst Bonnie Herzog maintained a Neutral rating while cutting the price target from $115 to $100.

Estée Lauder reported quarterly results that were “generally fine, with organic growth of +8%, slightly ahead of expectations as EMEA’s robust growth (driven by its global travel retail business) was partly offset by weakness across Americas (on slower end-market demand and declines in dept stores) and in APAC (led by China softness),” Herzog said in a note.

“Importantly, prestige beauty industry sales trends in Mainland China further weakened,” with consumer confidence remaining subdued, the analyst stated. He added, however, that management noted share gains in mainland China, driven by La Mer and Estée Lauder skincare offerings.

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