Elf Beauty price target raised to $165 from $128 at Canaccord

Canaccord analyst Susan Anderson raised the firm’s price target on Elf Beauty (ELF) to $165 from $128 and keeps a Buy rating on the shares. The firm said they are starting to see Ethe company’s recent price increases flow through the tracked channel, but note their analysis still finds Ethe company one of the best value offerings in mass beauty, and even more so when comparing products to their prestige-inspired equivalent. Canaccord believes Elf Beauty has multiple levers for growth, including expanding all major brands globally, getting benefits from recent price increases, and continued newness and innovation pipeline.