e.l.f. Beauty price target raised to $91 from $77 at DA Davidson

DA Davidson analyst Linda Bolton Weiser raised the firm’s price target on e.l.f. Beauty (ELF) to $91 from $77 and keeps a Buy rating on the shares. The analyst is increasingly bullish on the name due to acceleration of tracked channel points of sales, which are now up about 70% y/y, as well as the firm’s proprietary data showing that e.l.f. Beauty has gained 50% more space in some Target (TGT) stores, DA Davidson tells investors in a research note. The company is targeting to be #1 in U.S. mass color cosmetics, which gives them sales upside to about $1.1B, the analyst added.