Morgan Stanley analyst Dara Mohsenian raised the firm’s price target on e.l.f. Beauty to $118 from $110 and keeps an Overweight rating on the shares, which the analyst continues to identifies as a preferred SMID cap name. After a more than four-fold increase in the stock over the last year, the firm still judges that there remains “solid upside left both fundamentally in terms of upside vs consensus and subsequent stock upside,” the analyst tells investors. The firm says its view is supported by upside in Q4 results, continued scanner data strength in Q1, and what it calls “still strangely too low forward consensus estimates.”
Published first on TheFly
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