Elf Beauty price target raised to $163 from $154 at JPMorgan

JPMorgan raised the firm’s price target on Elf Beauty (ELF) to $163 from $154 and keeps an Overweight rating on the shares. The firm anticipates an “eventful earnings season” for the household and personal care group, with key debates into 2025 of consumption behavior, impact of currency, tariff risk for multinationals, financial expenses on higher rates for longer, and asset allocation. In light of the new U.S. administration and “many puts and takes” from a macro-political standpoint, JPMorgan expects companies will opt for a “very conservative approach to their outlook.”