e.l.f. Beauty price target lowered to $151 from $167 at Stifel

Stifel lowered the firm’s price target on e.l.f. Beauty to $151 from $167 and keeps a Hold rating on the shares. The firm sees upside to consensus sales expectations for Q4 and views FY25 estimates as “reasonable” based on a deep dive of e.l.f.’s sales by segment, the analyst tells investors. However, Stifel reduced its price target with a lower multiple reflecting noted market share and category dynamics, despite expectations for continued solid growth in international and untracked U.S. channels.