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Goldman starts coverage on beauty stocks, Efl Beauty shares up 4%


Published on 2024-12-13 20:21:14 - MSN
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  • Goldman Sachs initiated coverage on beauty stock ELF Beauty Inc (NYSE:ELF) and Coty Inc (NYSE:COTY) amid a challenging environment for mass cosmetics. Shares of ELF Beauty were up 4% after brokerage started with a "buy"

Goldman Sachs has initiated coverage on several beauty stocks, highlighting E.l.f. Beauty Inc. (NYSE: ELF) with a Buy rating and setting a price target of $198 per share. This positive outlook led to a 4% increase in E.l.f. Beauty's stock price. Analyst Brooke Roach from Goldman Sachs praised E.l.f. for its strong market position, innovative product offerings, and effective marketing strategies, which have contributed to its significant growth in market share. The coverage reflects optimism about the beauty sector's resilience and growth potential, driven by trends like clean beauty and digital marketing.

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[ https://www.msn.com/en-us/money/top-stocks/goldman-starts-coverage-on-beauty-stocks-efl-beauty-shares-up-4/ar-AA1vPhfa ]