e.l.f. Beauty price target raised to $100 from $75 at Truist

Truist raised the firm’s price target on e.l.f. Beauty to $100 from $75 and keeps a Buy rating on the shares. The analyst is positive on the company having rolled out higher priced innovations and entering the skin cream category, which carry higher price points, stating that in the past two years, e.l.f. Beauty has continued to take selective pricing in response to spiking input and supply chain costs. The firm adds that the recent Walmart (WMT) walk-through saw dramatically different presence for e.l.f. assortment, with "majority of products listed for $5, $6, $7 or $10, less than 5% listed for $3 and no products listed for $2."