Elf Beauty price target lowered to $75 from $80 at DA Davidson

DA Davidson lowered the firm’s price target on Elf Beauty (ELF) to $75 from $80 and keeps a Neutral rating on the shares after meeting with its CEO. The lip oil launch last year was bigger than understood by analysts and is the key reason for current trends of flat to down Point of Sale – POS – trends in U.S. tracked channels, the analyst tells investors in a research note. To try to drive consumption, Elf is moving forward to April a major launch that had been planned for summer, but in order to get more constructive, DA Davidson needs to see a resumption of 5%-10% U.S. POS growth, the firm added.