e.l.f. Beauty (ELF) PT Raised to $110 at TD Cowen

TD Cowen analyst Oliver Chen raised the price target on e.l.f. Beauty (NYSE: ELF) to $110.00 (from $85.00) while maintaining a Buy rating.

The analyst commented: "Rhode + Hair Broaden Growth Drivers; Higher Expectations Likely Ahead; Impressive revenue upside was driven by Rhode (revs. +36% vs. Street's +22%), and we remain encouraged by the Haircare opportunity & international runway. However, near-term risks include consumer response as ~90% of SKUs return to higher price points this fall, execution risk in emerging categories and markets, and elevated expectations following the stock's run (+30 YTD%)."

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