Elf Beauty price target raised to $150 from $130 at Truist

Truist raised the firm’s price target on Elf Beauty (ELF) to $150 from $130 and keeps a Buy rating on the shares as part of a broader research note previewing 2025 for Consumer Prodcuts. The company has only 9% share of the U.S. mass beauty market and offers a strong new product pipeline and shelf space gains, with the firm forecasting another year of double-digit growth, the analyst tells investors in a research note. Truist adds however that Elf will face difficult comparisons for the first 3 months of 2025 in the U.S.