12:51 PM EDT, 03/28/2024 (MT Newswires) -- Estee Lauder's ( EL ) bid to sell its Clinique brand through Amazon.com's ( AMZN ) Premium Beauty store is a "logical" next step for the cosmetic company, Oppenheimer said Thursday.

The deal, announced Wednesday, should enhance Estee Lauder's ( EL ) distribution channels and boost its competitiveness. L'Oreal saw a 70% increase in demand for its products after they began selling on the Amazon ( AMZN ) platform, Oppenheimer analysts said.

The company's latest move appears favorable, but the elevated stock price and an uncertainty around its travel retail channel keep the risk/reward model unchanged.

Estee Lauder ( EL ) "shares remain on our radar," the investment firm said, issuing a perform rating with no price target.

Estee Lauder ( EL ) shares were more than 6% higher in recent trading.

Price: 153.93, Change: +8.89, Percent Change: +6.13