Elf Beauty price target lowered to $85 from $105 at Stifel

Stifel lowered the firm’s price target on Elf Beauty (ELF) to $85 from $105 and keeps a Hold rating on the shares after the company reported mixed Q3 results and reduced full-year guidance for sales and adjusted EBITDA. The company cited softer-than-expected trends in January for reduced guidance, offering that implied sales growth was not indicative of what it considers run-rate sales trends, notes the analyst, whose take is that while Q4 sales guidance “seems conservative, company growth and market share gains are slowing.”