Morgan Stanley analyst Dara Mohsenian upgraded Elf Beauty (ELF) to Overweight from Equal Weight with a price target of $134, up from $114. Considering potential profit contribution “far above” consensus expectations from pricing, upside from rhode accretion, and solid base business growth, the analyst contends that consensus “looks materially too low,” noting that the firm’s forecasts are 18% above consensus in terms of FY27 adjusted EBITDA.
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