Canaccord raised the firm’s price target on Elf Beauty (ELF) to $150 from $114 and keeps a Buy rating on the shares. The firm raised its target as they believe the company is set to benefit from multiple tailwinds including easier year-over-year comps in the US tracked channel starting mid-July, the brand continuing to gain share in the mass cosmetics category, and the China tariff situation is not as bad as feared.
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Read More on ELF:
- Cautious Hold Rating for e.l.f. Beauty Amid Slowing Sales Momentum
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- Elf Beauty price target raised to $135 from $113 at BofA
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