Morgan Stanley raised the firm’s price target on e.l.f. Beauty to $94 from $75 and keeps an Overweight rating on the shares. Accelerating U.S. scanner data sales in Q1 confirm near-term upside and a greater long-term growth opportunity than the market expects, the firm says. Given its increased confidence in the firm’s call for "large topline upside" versus consensus, Morgan Stanley calls e.l.f. its preferred SMID cap name in North American Beauty.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ELF:
- e.l.f. Beauty, American Eagle announce beauty collaboration
- e.l.f. Beauty price target raised to $90 from $82 at Piper Sandler
- e.l.f. Beauty price target raised to $91 from $77 at DA Davidson
- e.l.f. Beauty price target raised to $70 from $36 at Cowen
- e.l.f. Beauty price target raised to $82 from $64 at Piper Sandler