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Morgan Stanley downgrades e.l.f. Beauty, cuts price target

Published 2024-01-22, 06:40 p/m
© Reuters.
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NEW YORK - Shares of e.l.f. Beauty Inc. (NYSE: NYSE:ELF) saw a decline in today's morning trading session following a downgrade by Morgan Stanley (NYSE:MS) from Overweight to Equal-weight. The investment firm also adjusted its price target for the cosmetic company's stock, lowering it from $168 to $137.

e.l.f. Beauty, which has seen its shares fluctuate between $52.56 and $164.71 over the past year, is anticipated to publish its earnings report on February 6. The reduction in the price target by Morgan Stanley comes ahead of this financial disclosure, a move that appears to have influenced investor sentiment.

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