Canaccord lowered the firm’s price target on Elf Beauty (ELF) to $128 from $150 and keeps a Buy rating on the shares. The firm said the company business continued to see strong performance internationally, which saw sales up +30% despite a tough +91% comp. Sales in the US were also up +5% after seeing +1% growth in the prior quarter. However, ELF’s primary story is focused around how they can handle tariff pressures due to exposure to China manufacturing.
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