e.l.f. Beauty price target raised to $95 from $90 at Piper Sandler

Piper Sandler raised the firm’s price target on e.l.f. Beauty to $95 from $90 and keeps an Overweight rating on the shares. The analyst reiterates e.l.f. as a top idea following "impressive results" from Piper’s semi-annual survey of teens. An analysis of the company’s domestic shelf space opportunity suggests "significant upside potential to current share levels," the analyst tells investors in a research note. Piper says max penetration in the U.S. is "still a long ways off: for e.l.f. The teen survey saw "very strong growth" in overall teen cosmetics spend at up 32% year-over-year, and tee percent of teens wearing makeup every day reached the highest level since 2017 at 45%, the firm says.