Raymond James analyst Olivia Tong lowered the firm’s price target on Elf Beauty (ELF) to $85 from $120 and keeps a Strong Buy rating on the shares. The firm expects a “tepid” earnings season across the beauty, personal care, and household product group for Q1 as a result of decelerating sales, most notable in the U.S., but also spreading to Europe and Latin America. Demand is slowing as consumers watch their spending on everyday goods, while retailers appear to be prioritizing categories most at risk for tariff-related increases, the analyst tells investors in a research note.
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