Elf Beauty price target lowered to $90 from $100 at Canaccord

Canaccord analyst Susan Anderson lowered the firm’s price target on Elf Beauty (ELF) to $90 from $100 and keeps a Buy rating on the shares. The firm updated its model following Q4 results where the beat was primarily driven by outperformance from Rhode, which saw sales around about $112M versus implied guidance of $82-87M. The rest of the business was up around +1%.