e.l.f. Beauty shares are trading higher after Raymond James upgraded the stock from Outperform to Strong Buy but lowered its price target from $145 to $140.
Portfolio Pulse from Benzinga Newsdesk
Raymond James has upgraded e.l.f. Beauty's stock from Outperform to Strong Buy, despite lowering its price target from $145 to $140. This has resulted in e.l.f. Beauty shares trading higher.
October 23, 2023 | 4:58 pm
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e.l.f. Beauty's stock has been upgraded to Strong Buy by Raymond James, leading to a rise in share prices. However, the price target has been lowered from $145 to $140.
The upgrade to Strong Buy indicates a positive outlook for e.l.f. Beauty's stock, which has led to an increase in share prices. However, the lowering of the price target may indicate a potential limit to the stock's growth, which investors should be aware of.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100