Elf Beauty price target lowered to $175 from $220 at Jefferies

Jefferies lowered the firm’s price target on Elf Beauty (ELF) to $175 from $220 and keeps a Buy rating on the shares. The firm continues to like Elf and thinks the recent selloff makes for “an attractive entry point,” adding that it is optimistic that Elf can beat the quarter and hold the guide. However, the firm did tweak its model “slightly lower” as its estimates were ahead of the fiscal year guidance, the analyst noted.