Morgan Stanley analyst Dara Mohsenian raised the firm’s price target on e.l.f. Beauty to $75 from $64 and keeps an Overweight rating on the shares following the company’s "large" fiscal Q3 beat and "substantial" FY23 guidance raise. The firm said e.l.f. remains its preferred small-to-mid cap name in the North America beauty space given significant near-term potential revenue upside based on both beauty category growth rebounding and the company continuing its "pronounced" share gains.
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- e.l.f. Beauty price target raised to $78 from $63 at Canaccord
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