Elf Beauty price target raised to $114 from $105 at Morgan Stanley

Morgan Stanley analyst Dara Mohsenian raised the firm’s price target on Elf Beauty (ELF) to $114 from $105 and keeps an Equal Weight rating on the shares. Despite a Q1 beat, a lack of forward guidance outside of below consensus Q2 margins sent the stock down after-hours, the analyst tells investors. However, the firm opts to “see the glass as half full with pricing now in place, Rhode accretion, and Q2 margin guidance de-risked,” the analyst added.