Elf Beauty price target raised to $95 from $85 at Raymond James

Raymond James analyst Olivia Tong raised the firm’s price target on Elf Beauty (ELF) to $95 from $85 and keeps a Strong Buy rating on the shares. Raymond James expects Elf to report at the high end or better for Q4, and says fiscal 2026 are shaping up better than expected last quarter after management lowered its outlook for the first time in the post-COVID era, the analyst tells investors in a research note. The firm thinks Elf will err to the conservative side on guidance, but believes Elf can continue its material outperformance of the category while also expanding internationally.