Elf Beauty price target raised to $165 from $162 at Piper Sandler

Piper Sandler raised the firm’s price target on Elf Beauty (ELF) to $165 from $162 and keeps an Overweight rating on the shares. The firm notes the company delivered the print they needed, beating and raising, and providing key updates to rebuild investor confidence, including additional retail expansion in the U.S. and encouraging reads out of international markets. Piper understands there may still be areas of pushback from picky investors, but at the end of the day, it thinks this is a high quality and high growth name in consumer right now at an attractive valuation with little reason to believe forward estimates could be at risk. The firm encourages investors to buy.