Piper Sandler lowered the firm’s price target on Elf Beauty (ELF) to $81 from $90 and keeps an Overweight rating on the shares. The firm remains a buyer of Elf Beauty. Though the very near term could be bumpy with the ever-changing tariffs, the underlying risk/reward looks compelling, with buy side expectations seeming to become more bearish, some tariff mitigation looking possible and probable, and sales trends that remain best in class for beauty right now, the firm says.
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