JPMorgan raised the firm’s price target on Elf Beauty (ELF) to $123 from $70 and keeps an Overweight rating on the shares. The firm believes Elf regained its growth stock status after the Rhode acquisition. Despite management not providing initial FY26 guidance, which is a disappointment, there are more reasons to like Elf even after the positive reaction yesterday, the analyst tells investors in a research note.
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