Canaccord lowered the firm’s price target on Elf Beauty (ELF) to $174 from $200 and keeps a Buy rating on the shares. The firm lowered the target based on a lower multiple as they believe the company is beyond its peak growth stage where sales were growing 70%+ year-over-year and sales likely to grow at a very strong +15-20%+.
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Read More on ELF:
- Elf Beauty sales trends slowed in last two weeks, says Morgan Stanley
- Elf Beauty can report another beat-and-raise, says DA Davidson
- Elf Beauty price target raised to $158 from $156 at UBS
- Elf Beauty price target raised to $163 from $154 at JPMorgan
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