Raymond James analyst Olivia Tong raised the firm’s price target on Elf Beauty (ELF) to $105 from $95 and keeps a Strong Buy rating on the shares. Elf benefitted in Q4 from share gains as well as partly from pipeline fill for the expansion into Belgium and The Netherlands, and continues to stay on target with share gains in the U.S. and global expansion, the analyst tells investors in a research note. While near-term margins will be volatile due to tariffs, tariff headwinds are already known and the acquisition of Rhode should strengthen key retail relationships, the firm says.
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