Goldman Sachs initiated coverage on e.l.f. Beauty with a 'Buy' rating and a $165 per share price target on December 13, 2024. This move signals a positive outlook from a major investment bank on the cosmetics company.
Analysts at Goldman Sachs described e.l.f. Beauty as a 'small, more nimble challenger to incumbent beauty brands.' This highlights the company's competitive positioning and agility in the beauty sector.
The initiation of coverage with a favorable rating can draw increased attention from institutional investors and potentially influence market perception of e.l.f. Beauty's growth prospects.
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