Truist raised the firm’s price target on e.l.f. Beauty to $210 from $200 and keeps a Buy rating on the shares. The firm is updating its model after the company’s “outstanding” Q4 results and “highly conservative guidance” while raising its FY25 EBITDA view from $284M to $290M, the analyst tells investors in a research note. Truist also sees upside potential for e.l.f. Beauty as the company penetrates new retailers and rolls out new innovation.
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