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Fly News Breaks for December 16, 2019
ELF
Dec 16, 2019 | 07:38 EDT
As previously reported, Morgan Stanley analyst Dara Mohsenian upgraded e.l.f. Beauty to Overweight from Equal Weight with a $20 price target as he believes improved marketing/social media execution, "much higher" marketing spending, and upgraded packaging have translated to a market share inflection and can add up to sustained revenue growth re-acceleration. He also sees the recent 20% pullback in the stock being due to "overblown" short-term concerns about a scanner data slowdown, which he thinks is due more to temporary factors this holiday, and the sale of stock by TPG, which Mohsenian said should not be a surprise given prior stock sales.
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