Elf Beauty price target raised to $130 from $125 at Truist

Truist analyst Bill Chappell raised the firm’s price target on Elf Beauty (ELF) to $130 from $125 and keeps a Buy rating on the shares as part of a broader research note updating estimates among select Consumer Product names. Consumption is reaccelerating and Truist also likes the company’s new acquisition of rhode, a lifestyle beauty brand whose sales have gone from $0 to $212M in the last 3 years, the analyst tells investors in a research note. Scanner data has also reaccelerated to positive double-digits after flipping negative early this year, the firm added.