e.l.f. Beauty shares are trading higher after TD Cowen upgraded the stock from Hold to Buy but cut its price target from $220 to $190.
Portfolio Pulse from Benzinga Newsdesk
e.l.f. Beauty's stock (ELF) is trading higher following an upgrade from Hold to Buy by TD Cowen, despite a reduction in the price target from $220 to $190.
April 17, 2024 | 11:18 am
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POSITIVE IMPACT
e.l.f. Beauty's stock is experiencing a positive movement after an upgrade by TD Cowen, despite a lower price target.
The upgrade to Buy signifies a positive outlook on ELF's future performance by TD Cowen, outweighing the negative impact of the reduced price target. This suggests analysts see intrinsic value in the company's fundamentals or growth prospects, leading to a likely short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100