Morgan Stanley Downgrades e.l.f. Beauty to Equal-Weight, Raises Price Target to $168
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Dara Mohsenian downgraded e.l.f. Beauty (NYSE:ELF) from Overweight to Equal-Weight but increased the price target from $137 to $168.

January 22, 2024 | 10:52 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Morgan Stanley downgraded e.l.f. Beauty to Equal-Weight but raised the price target to $168, indicating mixed sentiment.
The downgrade to Equal-Weight suggests that Morgan Stanley believes e.l.f. Beauty is now fairly valued and may not outperform the market as it previously expected. However, the increase in the price target to $168 implies that the analyst sees some potential for the stock to grow from its current price, albeit at a pace that aligns with market performance. This mixed sentiment could lead to a neutral short-term impact on the stock as the market digests both the downgrade and the raised price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100