e.l.f. Beauty price target raised to $105 from $95 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on e.l.f. Beauty to $105 from $95 and keeps an Overweight rating on the shares ahead of the Q1 results. The analyst says trade down, China, and travel remain the three key topics to watch this year for the beauty and wellness space. Piper continues to feel most confident in Coty (COTY) and e.l.f. Beauty (ELF) into the quarter, and continues view these two names plus Beauty Health (SKIN) as its top ideas this year.