Cowen Starts e.l.f. Beauty (ELF) at Outperform

Cowen initiates coverage on recent IPO e.l.f. Beauty (NYSE: ELF) with a Outperform rating and a price target of $32.00.

Analyst Oliver Chen commented, "We expect ELF to gain share in an attractive beauty industry through: shorter supply chain times, which drive sharper innovation, very affordable price points 80% below prestige, trend-right execution, & runway of growth given wholesale & own-store opportunity. We model +35-40% EPS CAGR from FY15-FY19 on distribution & comp growth combined with EBIT margin expansion."

For an analyst ratings summary and ratings history on e.l.f. Beauty click here. For more ratings news on e.l.f. Beauty click here.

Shares of e.l.f. Beauty closed at $26.94 yesterday.

You May Also Be Interested In

• Piper Sandler Assesses Price Reductions at e.l.f. Beauty (ELF)
• Lucid Capital Markets Starts Core Scientific Inc. (CORZ) at Buy
• BofA Securities Starts Dollarama Inc. (DOL:CN) (DLMAF) at Buy