UBS initiated coverage of e.l.f. Beauty with a Buy rating and $138 price target, implying 26% upside from current levels. The analyst believes e.l.f. can drive 47% and 20% organic growth in fiscal 2024 and 2025, respectively, driven by innovation-led share gains across the mass beauty industry. The firm says the Street is still not fully reflecting the company’s top line potential, with its estimates for 2024 and 2025 8% and 16% above consensus, respectively.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ELF:
