US Top Rating Updates on 12/6: WMT, COST, JPM, GE and More

Deutsche Bank analyst Steve Powers upgraded $Estee Lauder (EL.US)$ to Buy from Hold with a price target of $266, up from $209. The analyst sees increased likelihood of China reopening by the start of Estee's fiscal 2024 and has increased confidence in its makeup margin expansion.

Deutsche Bank analyst Steve Powers downgraded $Kimberly-Clark (KMB.US)$ to Sell from Hold with a price target of $123, up from $120. The analyst believes Kimberly-Clark is managing its business well but sees its operating environment turning increasingly challenging.

Bernstein analyst Dean Rosenblum initiated coverage of $Costco (COST.US)$ with an Outperform rating and $586 price target. The analyst is "cautiously bullish" on the U.S. hardlines / broadlines retail sector. Long-term fundamentals "remain sound," and both the grocery and home improvement subsectors are "surprisingly well-insulated" from e-commerce encroachment, Rosenblum tells investors in a research note.