Jefferies raised the firm’s price target on e.l.f. Beauty to $220 from $200 and keeps a Buy rating on the shares. After having hosted the company’s senior team for meetings in London, the firm came away with “even more confidence” in the company’s multi-year growth drivers, the analyst tells investors. Despite what “seems like a full valuation,” the firm thinks models are too low and investors are underappreciating the expansion opportunity in the U.S. and internationally, the analyst added.
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