e.l.f. Beauty price target raised to $130 from $124 at DA Davidson

DA Davidson analyst Linda Bolton Weiser raised the firm’s price target on e.l.f. Beauty to $130 from $124 and keeps a Buy rating on the shares. The company is likely to post another beat-and-raise quarter when they report results, the analyst tells investors in a research note, stating that the point-of-sales in the 12 weeks ended June 18, 2023 was up 53.8% from last year, exceeding the consensus Q1 sales outlook of 49.8%. Growth could continue to be very high at 35%-45% through the end of 2023, the firm tells investors in a research note.