UPDATE: Raymond James Starts e.l.f. Beauty (ELF) at Outperform
Raymond James analyst Olivia Tong initiates coverage on e.l.f. Beauty (NYSE: ELF) with a Outperform rating and a price target of $33.00.
The analyst comments "With an increasingly diverse product portfolio, retail mix beginning to expand, and rising yet still affordable price points (starting at $1), ELF is well positioned. Improving post-COVID demand for Beauty further supports growth beyond the company’s significant whitespace opportunities. We have a favorable view on the Beauty sector, and believe the strength of e.l.f.’s partnerships, a history of successful brand building through digital marketing, its e-commerce capabilities, and its opportunity to expand internationally and in higher margin categories provide a multi-faceted growth path for the company."
Shares of e.l.f. Beauty closed at $26.13 yesterday.
You May Also Be Interested In
- UPDATE: Morgan Stanley Upgrades Sony Corp. (6758:JP) (SNE) to Overweight
- UPDATE: H.C. Wainwright Starts Amryt (AMYT) at Buy
- 'As Good as it Gets' for AMD (AMD), Lynx Equity Strategies Says; PT Cut
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot New Coverage, New Coverage
Related EntitiesRaymond James
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!