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e.l.f. Beauty price target lowered to $152 from $164 at Piper Sandler

e.l.f. Beauty price target lowered to $152 from $164 at Piper Sandler

Piper Sandler lowered the firm’s price target on e.l.f. Beauty to $152 from $164 as the firm adjusts its model for the Naturium acquisition now that it has closed and reduces its valuation methodology to account for recent peer multiple contraction and the added risk investors see with smid-cap consumer discretionary. Piper keeps an Overweight rating on the shares.

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