Raymond James analyst Olivia Tong tells investors in a research note that e.l.f. Beauty is a top long idea into Q2 results, with the recent pullback on risks of higher import tariffs offering a more attractive entry point for the shares. The firm, which made no change to its Strong Buy rating or $235 price target, says the company has the flexibility to price higher and still offer value and sees significant opportunity for e.l.f. to expand its presence in new markets internationally as well as in the U.S.
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