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Elf Beauty price target raised to $170 from $134 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Elf Beauty (ELF) to $170 from $134 and keeps an Overweight rating on the shares. The firm is “modestly increasing” its EPS estimates by 1% for the second half of FY26 and 2% in FY27 to reflect a stronger expected contribution from rhode following its “record-breaking” Sephora launch, adding that visibility is building on the firm’s “far above consensus” FY27 view.

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