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.
Published first on TheFly
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