Bernstein SocGen Group raised its price target for e.l.f. Beauty to $127 from $121. The firm maintains an Outperform rating on the stock. This new target suggests a potential 38% upside from the current price. Analysts support the outlook with a bottom-up channel model forecasting long-term growth.
B. Riley also increased its price target to $115 yesterday. The firm cited momentum from the Rhode brand and a new partnership with Sephora in Brazil. International expansion remains a primary growth driver. International net sales continue to show strong year-over-year growth.