e.l.f. Beauty price target raised to $75 from $65 at BofA

BofA analyst Anna Lizzul raised the firm’s price target on e.l.f. Beauty to $75 from $65 and keeps a Buy rating on the shares after fiscal Q3 results beat expectations as the company saw broad-based strength across core products and recent innovation. e.l.f. cosmetics grew market share by 150 basis points in the quarter and BofA expects share gain benefits to continue in the coming quarters given momentum from shelf space expansion and consumers trading down from prestige and trading in from other mass brands.