Morgan Stanley says beauty stock now a great value after being cut in half

E.l.f. Beauty shares look a lot more attractive after their 2024 sell-off, according to Morgan Stanley. Analyst Dara Mohsenian upgraded shares of the cosmetics stock to overweight from equal weight. Mohsenian also hiked his price target by $14 to $153, suggesting upside of almost 23% in the coming 12 months compared to last week’s close.