Raymond James analyst Olivia Tong raised the firm’s price target on e.l.f. Beauty to $215 from $200 and keeps a Strong Buy rating on the shares. E.L.F.’s unique ability to connect with consumers, particularly in Gen Z and Gen Alpha, through disruptive innovation and messaging, as well as increasing appeal to a broader audience underlies its pace of growth, including 85% sales year over year in the December quarter and a 5-year sales compound annual growth rate of 27%, the analyst tells investors in a research note.
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