Puig's Share Price Hinges on Potential Business Combination With Estee Lauder — Market Talk

About this update from Puig Brands, S.a. Class B

Puig'spositive performance for the first quarter was helped by innovation and international expansion, Berenberg analysts say. The Spanish fragrance group posted better-than-expected growth and management remains confident in its ability to outpace the prestige beauty market this year. "Despite the strong start to the year, we believe the outlook for Puig's share price hinges on developments in conversations with Estee Lauder regarding a potential business combination," the analysts write in a research note. Berenberg keeps its hold rating on the stock. Shares closed at 17.42 euros on Monday. ([email protected])

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