Canaccord analyst Susan Anderson said the weakness in the shares of Elf Beauty (ELF) caused by the tariffs has presented opportunities for shares which they believe are close to a bottom. They believe the shares presents a positive risk/reward opportunity as the stock has fallen around -60% YTD due to slowing tracked sales and now the tariff announcement. They believe the company has a playbook to minimize tariff impacts and they aggressively estimate about 70% of products are exposed to Chinese tariffs. Canaccord maintains its Buy rating and $105 price target on Elf Beauty shares.
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