Stifel analyst Mark Astrachan lowered the firm’s price target on Elf Beauty (ELF) to $115 from $131 and keeps a Hold rating on the shares after the company reported fiscal Q2 results and updated FY25 guidance. While the firm lifts its FY24-FY25 estimates slightly, it reduced its price target based on 18-times its FY26 adjusted EBITDA estimate, noting that it sees “more downside than upside from after hours levels.”
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Read More on ELF:
- Elf Beauty price target lowered to $170 from $223 at DA Davidson
- Elf Beauty price target lowered to $200 from $250 at Canaccord
- Elf Beauty price target raised to $165 from $162 at Piper Sandler
- Elf Beauty price target lowered to $154 from $167 at JPMorgan
- e.l.f. Beauty Reports Strong Q2 Growth and Raises Outlook