Stifel analyst Mark Astrachan lowered the firm’s price target on Elf Beauty (ELF) to $105 from $115 and keeps a Hold rating on the shares. Ahead of earnings, the firm lifted its FY25 and FY26 sales and adjusted EBITDA estimates and sees “modest upside” to fiscal Q3 consensus sales estimates. However, heightened volatility in U.S. scanner data in recent weeks is “a watch point” as extrapolating recent run-rate sales trends would result in downside relative to consensus sales estimates through FY26, the analyst added ahead of December quarter results from names in the beauty group.
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