Elf Beauty price target lowered to $120 from $150 at Jefferies

Jefferies lowered the firm’s price target on Elf Beauty (ELF) to $120 from $150 and keeps a Buy rating on the shares after a “mixed” Q2 that saw sales miss expectations, but EBITDA and EPS beat consensus. Second half organic growth guidance of 2%-5% looks “conservative” and “appears beatable if momentum holds and elasticity remains limited,” the analyst tells investors in a post-earnings note.