Shares of Estee Lauder (EL) slip 1% premarket after CLSA downgrades the company to Underperform...

|By:, SA News Editor

Shares of Estee Lauder (EL) slip 1% premarket after CLSA downgrades the company to Underperform from Outperform. Earlier this year, the investment firm had Estee Lauder slotted at a Buy rating, but increased competition in emerging markets has cooled the outlook on the cosmetics manufacturer.