Elf Beauty shines as market weighs Rhode acquisition bet
Shares Elf Beauty ELF.N up 7.5% at $95 premarket
Co said on Wednesday it has acquired Hailey Bieber’s Rhode in a $1 billion deal
Elf refrained from providing a fiscal 2026 forecast due to uncertainty surrounding import tariffs despite beating Wall St expectations for Q4 sales
Following the news, brokerage Canaccord Genuity raised its PT to $114 from $105, maintains "buy" rating
"We believe management has a strategy in place to minimize tariff impacts" - Canaccord Genuity
Brokerage sees acquisition as fairly priced for a high-growth, margin-accretive business with global expansion potential
Bieber will continue her role as founder and will also act as a "strategic advisor" after the expected deal closure in Q2 2026
ELF down ~28% YTD vs 3.74% rise in S&P 500 Personal Care Products Sub Index .SPLRCCOMS
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