Baird Raises Elf Beauty's Price Target to $145, Maintains Outperform Rating

Baird analyst Mark Altschwager raised the price target on Elf Beauty (ELF) to $145 from $110 and maintained an Outperform rating. The update follows the company's presentation at the Baird Global Consumer, Technology, and Services Conference.

Baird analyst Mark Altschwager has updated his price target for ELF Beauty (ELF), raising it to $145 from $110 while maintaining an Outperform rating. The analyst's revision follows the company's presentation at the Baird Global Consumer, Technology, and Services Conference.

Altschwager's updated model reflects a positive outlook on ELF Beauty's strategic investments and growth potential. The analyst cited the company's strong market share gains, aggressive share repurchase program, and robust financial performance as key factors supporting the higher price target. The Outperform rating indicates that Altschwager believes ELF Beauty's prospects are favorable, with the potential for significant returns.

ELF Beauty, a holding company specializing in inclusive, accessible, clean, vegan, and cruelty-free cosmetics and skin care products, has seen a surge in analyst interest and positive ratings in recent months. The company's focus on e-commerce, national retailers, and international business channels has contributed to its growth. In addition to its core brands, ELF Beauty has recently announced a $500 million share repurchase program, further bolstering its financial health.

The company's recent acquisition of the Rhode brand, founded by Hailey Rhode Bieber, is also expected to drive growth. Despite potential competition and margin pressure, ELF Beauty's strategic investments and strong market position are seen as positive indicators for future performance.

Overall, the analyst's update highlights ELF Beauty's strong fundamentals and growth prospects, making it an attractive investment opportunity for investors seeking exposure to the beauty sector.

References:

[1] https://www.cnn.com/markets/stocks/ELF
[2] https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176283849
[3] https://www.reddit.com/r/Optionmillionaires/comments/1l4pvig/elf_elf_beauty_price_target_raised_to_145_from/
[4] http://www.baystreet.ca/articles/stockstowatch.aspx?id=20903
[5] https://in.investing.com/news/analyst-ratings/ulta-beauty-stock-price-target-raised-to-465-by-td-cowen-93CH-4856094