Elf Beauty price target lowered to $121 from $136 at Canaccord

Canaccord lowered the firm’s price target on Elf Beauty (ELF) to $121 from $136 and keeps a Buy rating on the shares. The firm believes the recent sell-off in the beauty, health and wellness sector since the start of the conflict with Iran has led to some attractive buying opportunities as the group has been disproportionately impacted and is generally underperforming the overall market with attractive valuations. Elf Beauty has a combination of newness and innovation or value-oriented offerings can help keep consumers engaged.