The Estée Lauder Companies Inc. (NYSE:EL) shares grew around 40% last year, outperforming around 27% gain in the S&P 500. Analysts at Oppenheimer provided their views on the company, re-evaluating the upside case over the next 12-18 months and increasing their price target to $410 from $355.

The analysts believe the company remains uniquely positioned within CPG land to deliver attractive levels of both top and bottom-line expansion in a historically growth-challenged CPG universe, adding that Beauty remains their top vertical entering 2022 and they see continued recovery potential as consumer behavior gradually normalizes.