e.l.f. Beauty price target raised to $110 from $91 at DA Davidson

DA Davidson raised the firm’s price target on e.l.f. Beauty (ELF) to $110 from $91 and keeps a Buy rating on the shares after meeting with its CEO and CFO. The company’s management seemed confident in e.l.f.’s growth prospects while noting that increased shelf space at Walmart (WMT) and U.S. drug stores represents their biggest opportunity, the analyst tells investors in a research note. The firm adds that marketing ROIs are also increasing, and even with spending now at 19% of sales, "higher future ratios are possible".